470 credit score mortgage ? [New lenders? list 2026]

A hard money mortgage loan with a 470 Credit

With a 450 470 credit score, your only option for a mortgage is through private money investors, aka hard money lenders. Other types of loans are entirely off limits regardless of your income, cash in the bank, or low LTV. You will need to raise your credit score to at least 500 and preferably 580 to become eligible to obtain a HUD FHA loan, or a subprime loan.

To find out the requirements for an FHA loan, explore https://www.hud.gov/program_offices/housing or enter your data here into our FHA loan eligibility calculator and alternative options.

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Private money lenders for credit score 350-499

Despite having a poor credit score of 470, private investors through hard money brokers will lend you money to purchase a new property or refinance the existing property as long as you have a large down payment or enough equity in the property.

	Owner-Occupied Residential Hard Money	Owner-Occupied Residential	Commercial	Vacant Land	Conventional FHA, VA, USDA, Non-Qm
Max Loan to Value	60.11%	60.21%	61.34%	50.14%	N/A
Programs	Hard Money	Hard Money	Hard Money	Hard Money	N/A
Vesting	Natural, Corporation, LLC	Natural, Corporation, LLC	Natural, Corporation, LLC	Natural, Corporation, LLC	N/A
Tax Returns	Bank statements or other documents showing ATR	Alt documents or equity-only loans	Alt documents or equity-only loans	Alt documents or equity-only loans	N/A
Points	3.18	3.91	3.66	3.97	N/A
Rate	11.41%	12.3%	11.81%	13.5%	N/A
Loan terms	1—5 years	1—5 years	1-7 years	1-3 years	N/A
Property Condition	Any	Any include Fixer-Upper	Any	Unentitled land- reduce LTV to 26.23	N/A

Explore loan programs matrix based on other credit scores

The Rates & Terms depend on the Loan-to-Value, credit, property location, condition, and local real estate market condition. Unlike the FHA loan, which has standard underwriting, private money loan programs differ significantly between lenders. It behooves you to contact and get quotes from at least three lenders before you make a decision. See a list of potential hard money lenders or use the Lendersa form to shop for your loan simultaneously with hundreds of private money lenders.

How mortgage brokers rip you off

470 is a low score; unfortunately, a small percentage of mortgage brokers could take advantage of your credit disadvantage by trying to charge you an arm and a leg. Therefore, it would be best if you compared 3-10 lenders' programs before deciding on the best lender, thus avoiding mortgage brokers' rip-offs and loan sharks.

Improve your credit score for mortgage

Credit scores of 625 or above will open the door for more loan programs and better rates & terms. If you are not rushing to refinance or purchase a property, consider raising your credit score before attempting a loan review. Check our recommended resources to improve your credit at the bottom of the page Improving your credit score will enhance your chances for better loans. Understanding how credit scores work is the first step to raising your credit.

Here are a few links to resources that could raise your credit score: https://www.usa.gov/credit-reports https://www.fanniemae.com/crediteducation https://myhome.freddiemac.com/refinancing

List of lenders who consider lending to borrowers with 470 credit:

(859) 258-3990 Lender's profile and map Reviews Metro Employees Credit Union 1306 Versailles Road, Suite 140, Lexington, KY, 40504 MECU was established in 1940 by city employees looking for a way to earn higher rates on savings and lower rates for loans. Today, MECU has grown into a full service credit union. Membership in MECU is open to employees of the City of Lexington, employees of accepted outside agencies of the City of Lexington, employees of the Credit Union.
(615) 292-7828 Lender's profile and map Reviews St. Thomas Credit Union 4230 Harding Pike, Suite 103, Nashville, TN, 37205 Since 1959, St. Thomas Credit Union has been dedicated to growth & improvement through expansion of our financial products, knowledge and services. St. Thomas Credit Union realized that our sister credit union, St. Thomas Federal Credit Union in the Virgin Islands was hit hard by the recent hurricanes.
(740) 676-1165 Lender's profile and map Reviews Belmont Savings Bank 3301 Guernsey Street, Bellaire, OH, 43906 Belmont Savings Bank (BSB) is a full-service community bank headquartered in Bellaire, Ohio. Serving the community since 1885, BSB has the expertise, coupled with the friendly service you expect in a community bank. Offering services from checking accounts, to loans for your business and home, to online banking and more,
(606) 329-7876 Lender's profile and map Reviews Members Choice Credit Union 145 Russell Road, Ashland, KY, 41101 Members Choice Credit Union opened its doors in 1932, as Armco Employees Credit Union. In 1989, we moved to our Russell Road location so we could properly facilitate our member's needs. In the early 1990's, our credit union began to grow and we began offering our services to additional employee groups.
(404) 229-8004 Lender's profile and map Reviews Hard Money Loans Georgia 155 Gwinnett Dr, Suite E, Atlanta, GA, 30046 Georgia Private Loans is an Atlanta-based private lending company that focuses on short-term loans secured by real estate. Our clients utilize our loans, often referred to as "bridge" or "hard money" loans and also We offer two significant advantages over banks and other financial institutions: speed and flexibility.
(925) 837-1314 Lender's profile and map Reviews Persevere Lending 600 San Ramon Valley Blvd, Suite 202, Danville, CA, 94526 Persevere Lending (PL) is a California Corporation, specializing in the brokerage of privately funded mortgage transactions for real estate in NC, primarily in the greater Bay Area. Trust Deed investing, also known as “private” or “hard” money, is a niche alternative investment vehicle which offers an attractive return with the security of a Deed.
(321) 216-3112 Lender's profile and map Reviews Crowder and Company, LLC 1060 Woodcock Road, Orlando, FL, 32803 Crowder Financial, LLC is a leading commercial lending & investment company. Our team has decades of experience collectively within U.S.A. markets. We pride ourselves on the ability to lend & invest nationwide and to set obtainable guidelines on our investment strategies which continue to produce accurate expectations, consistently.
(304) 636-9115 Lender's profile and map Reviews Homeownership Center Inc 2276 Randolph Ave, Elkins, WV, 26241 The mission of the HomeOwnership Center is to strengthen the communities of North Central West Virginia by creating and supporting successful home owners through mortgage lending, credit counseling, financial advising and home buyer education. Empowering and inspiring families to achieve financial confidence and the dream of home ownership.
(970) 748-0342 Lender's profile and map Reviews Eagle One Financial 150 E Beaver Creek Blvd, Avon, CO, 81620 We offer many loan programs tailored for the resort market including jumbo mortgage loans, condo-tel loans, and portfolio loans for borrowers with unique situations or properties. We are a Colorado based, family owned mortgage lender and provide personalized service to each client, one at a time. Many of my clients have been with me for years
(218) 938-4144 Lender's profile and map Reviews Ultima Bank 9 West Minnesota Avenue, Winger, MN, 56592 Ultima Bank Minnesota originated as Farmers State Bank of Winger and was founded in 1904 in Winger, Minnesota, a small farming community in the northwest corner of the state. As typical of such communities, Winger's population peaked in the 1940's and then began to drop from about 400 to a little over 200 people today.