Can we get approved for a mortgage with low credit?

Credit scores are based on a Buyers history of regular on time payments. You may need to work on boosting your credit score to qualify even for a $130K loan. Talk to a local hometown banks lenders or a credit unions. Sometimes in house loans base a borrows qualifications on non traditional sources or methods and vote for the approval.

Great question—and thank you for sharing the details. While your credit scores are on the lower side, a large down payment like $110,000 can definitely help improve your chances of approval, even with traditional lenders. Here are a few things to consider: Some lenders offer FHA loans with credit scores as low as 500 if you have at least 10% down. Manual underwriting or specialized loan programs may be available through mortgage brokers or credit unions. A strong down payment reduces lender risk, which may open the door to non-conventional options or portfolio lenders. I’d recommend reaching out to a local mortgage broker in your area—they can shop around with multiple lenders and may have more flexible options than a standard bank. Wishing you the best of luck on your home buying journey—you’re closer than you might think! — Todd Bartusek Top 1% Omaha Realtor | Berkshire Hathaway HomeServices | All Metro Real Estate Group

Chris, having a large down payment like $110,000 definitely helps, but credit scores in the 400s will make it tough to get approved for traditional financing. Most lenders want to see at least a mid-500 score for FHA loans, and closer to 620+ for conventional. In Louisiana, I’ve seen buyers in your situation focus on two things: (1) working with a lender who specializes in credit-challenged borrowers, and (2) taking 6–12 months to boost scores by paying down revolving debt or clearing collections. With the size of your down payment, once your scores are up a bit, you’ll be in a strong position to qualify. A good local lender can look at your exact numbers and make a game plan with you.

You can work with a loan officer and they can tell you what you should do. They will be able to assist.

The lowest credit score needed to buy a house is typically 500 for an FHA loan with a 10% down payment. For conventional loans, a minimum of 620 is generally required. While some government-backed loans have very low requirements, most lenders impose their own higher minimums, often requiring at least 580 to 620. Your next step is to speak with a mortgage professional who can give you insight to your particular situation. Best of luck! Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

This is a common question among Florida buyers and sellers, and the answer depends on your specific situation and local market conditions. Understanding the fundamentals before making any decisions protects your investment and your timeline. In Inverness, Citrus County, Florida, the real estate landscape has its own characteristics that affect how this plays out in practice. The Citrus County market attracts a diverse buyer pool including relocators from higher-cost states, retirees, and local move-up buyers, which creates consistent demand across most price points and property types. The strategic approach is to work with a local agent who can pull current comparable sales data and walk you through the specific factors that apply to your situation in Florida. Every market is different at the neighborhood level, and decisions based on general advice or national headlines often miss the local nuances that matter most to your outcome. Making informed decisions based on local data is always the strongest position. Kevin Neely & Kaitlynd Robbins | K2 Sells

Yes—low credit doesn’t automatically disqualify you. Government-backed loans like FHA or VA loans are designed for buyers with lower credit scores, sometimes as low as 580 (or even 500 with a larger down payment). Lenders also look at income, debt ratio, and payment history, so improving a few key areas can boost approval odds. Working with a knowledgeable real estate agent and lender team ensures you explore every available option and build a plan to get you to the closing table.

A $110,000 down payment on a $239,000 home is roughly 46 percent down which is a massive strength in your application. That level of equity significantly reduces the lender's risk even with low scores. The honest picture is that most traditional lenders including FHA require a minimum score of 580, so both scores need to come up before a standard mortgage is accessible. The good news is that gap from 543 to 580 is achievable in 60 to 90 days with focused effort. Pay down any revolving credit card balances as low as possible and make sure every account is current with no missed payments. Those two actions move scores faster than anything else. In the meantime, explore non-QM lenders and portfolio lenders, typically smaller community banks and credit unions that hold their own loans. With a down payment this large some of these lenders will work with scores below 580 because the loan to value ratio is so favorable. Walk into local credit unions and community banks directly and have a conversation about your specific situation. The down payment you have is genuinely exceptional and the right lender will recognize that.

Getting approved with credit scores in the 500s is tough but possible, especially with your large $110,000 down payment. You might need to work with specialized lenders or consider FHA loans. A mortgage broker can help find the best options for you

That is easy. I have an quick way to incresae your credit score. The minimum credit score needs to be 580. callme I can help 352-266-2637

Call me and I will have my Mortgage person see how we will get you into your new home.