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Can you refinance a mortgage with bad credit?

Refinancing your mortgage is more challenging with bad credit, but it may still be possible. Credit requirements vary by the type of refinance loan and the lender. Some mortgage refinance options are available for people with credit scores in the 500s and 600s. Here are some tips for refinancing with a lower credit score:

How do I choose a bad credit refinance loan?

Pick the right bad credit refinance loan program using the table above. Provide the same financial information to all refinance lenders for accurate loan estimates. Be candid about any major credit issues (i.e. history of late payments, bankruptcies or foreclosures). Get all of your price quotes on the same day, when possible.

Can you refinance with a low credit score?

Credit requirements vary by the type of refinance loan and the lender. Some mortgage refinance options are available for people with credit scores in the 500s and 600s. Here are some tips for refinancing with a lower credit score: Shop around with at least three mortgage lenders, including your own mortgage servicer.

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