Can you get a home loan with a 522 credit score?

Can you get a home loan with a 522 credit score?
Every lender has credit guidelines that contain minimum credit score requirements. Most lenders want their mortgages to be saleable on the open market and therefore conform to standards set by agencies such as FNMA. For most standard mortgage programs a 522 credit score is too low. There are programs available through HUD that are more forgiving, but still do not allow scores in the low 500s.

With this said, that does not mean there aren't lenders who have decided to offer products for credit scores of that nature. However, these may be extremely hard to find and will carry higher rates.

The purchase of a home became quite easy in the last decade as de-regulated lenders sought enormous short term profits. The reality is that it is the largest and most serious transaction most average consumers could ever make. Therefore the truth is that you should have your finances dialed in. You should have enough income, low debt, good credit, a down payment, and reserves. If you don't, then owning a home can quickly become a nightmare and renting may truly be the best financial decision.