Mortgage With Bad Credit in San Diego

In the last six months or so, home loan lenders have been getting less restrictive in terms of credit requirements for home loans.  You may be able to qualify for a mortgage with “bad credit” in San Diego.  When your credit score is below 620, FHA is generally the best option.  We have options where we can get borrowers financed with a FHA home loan with as low as a 560 credit score.

But the first step for a borrower that wants to qualify for a mortgage with so called “bad credit” is to have a mortgage lender run their credit report and then go over the report in detail with the borrower.  We are happy to do this with clients just give us a call or email.  There are often many mistakes on a credit report that can be quickly fixed and other things that can be done to quickly bump up your credit report.  Below are the main factors that affect your credit score:

  • Late payments: Anything you are late on that reports to your credit has a significant negative effect on the score.  The more recent, the more negative impact.
  • Credit card ratios of credit balance to credit limit.  The credit bureaus like it if you total debt is 30% or less than your credit limit.  For example if you have a credit card limit of $10,000 you want to keep your total debt to $3,000 or less.
  • Mistakes. Often there are mistakes on your credit report that should not be there.  Many times you can call the creditor that is improperly reporting the item and have them remove the item.  This will have a very positive effect on your credit score.

So the good news is that with lender loosening their guidelines good chances are you can now qualify for a mortgage with “bad credit” in San Diego.  If you are looking for a home loan in California and have any questions please don’t hesitate to call me at 858-922-7899 or email me at

Warm Regards,

Rob Chomentowski

Sr. Loan Officer