Low Credit Score in the mid 500’s? Refinancing or Purchasing Can Be an Option

Even with a low credit score below 600, it’s still possible to consolidate debt through a FHA cash-out refinance. As long as you don’t exceed 15% equity in your home. Even with prior late mortgage payments, as long as we receive approval through AUS (automated underwriting system).  In addition, you can purchase with a minimum of 10% downpayment with a 550 FICO score.