You don’t have to have a high credit score in order to get a good mortgage. Here are even more alternative options. 

I’m back again for part two of my discussion with Stacy Crossingham about how you can qualify for a mortgage without having stellar credit. Today’s focus is going to be on alternative credit score programs.
Government-funded programs such as FHA or VA loans will allow you to get into a home with a score as low as 550. If your score is below that, you’ll need to explore your alternative programs. The interest rate will be a bit higher, at about 5.5% or 6% as opposed to 4% or 4.5%, but you can always refinance down the road if you improve your credit.

"Alternative loans will typically require at least a 5% down payment." 

As far as these alternative credit options go, there are some conditions that you’ll need to meet in order to qualify. If your debt-to-income ratio isn’t where it should be or you have some late bill payments, these types of loans are usually more lenient. They usually do require at least a 5% down payment, however. 
I think the key point in all of this discussion is that each situation is different, but there are a lot of different solutions out there to help make your dreams of homeownership come true.
If you have any questions for Stacy about your personal situation or how she can help you, don’t hesitate to give her a call at (505) 577-4304 or send her an email to
If you have any other questions for me, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.