Response for “Can I have a loan with a 500 credit history?”
Yes, you can easily! Now, this will depend on which form of loan you are interested in. Could it be a true mortgage loan? Or a loan that is payday? You can borrow cash despite having a FICO rating of 500 points.
So, when you’ve got bad credit, you probably donвЂ™t wish to have your credit checked through the approval period. Making use of an individual loan as a advance payment for a mortgage is very impractical additionally since conventional mortgage loans frequently need a credit score that is minimum.
With a credit history of 500, you might be eligible for a an FHA mortgage loan, you shall need certainly to pay 10% down. The interest is generally between 1 and 2 portion points over the prime price.