Wellsfargo banks take 500 Fico score to loan out the money now

United States
January 23, 2011 1:31pm CST
This is might be a good news to a lot of people who wants to borrow money to purchase a house. Especially now, with a lot of vacant house in the market, banks want to make their business profitable again. WellsFargo bank taking 500 FICO score to lend out the money. But the borrower has to pay at least 10% on down payment. For borrowers who have 600 or more scores, they have to pay out at least %5 down. That is one of the great news for some people who look into to buy a house right. So, consider this a great opportunity.
1 response
@lynnemg (4539)
• United States
24 Jan 11
Intersting information. I wonder if any other banks are going to follow their lead and begin to give out loans to people with low credit scores. It may be a great idea for those who have a bad score from past issues and are now on the right track.