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652 score what is the down payment for a conventional loan?

by kimberlysoap51 from Bowling Green, South Carolina. Mar 28th 2014 Reply


Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,248 contributions

Many lenders won't even do a conventional loan with a 652 score... But if they do, the minimum down payment will typically be 5%. There are some community housing programs that will allow conventional loans with just 3% down. Here in Minnesota, we have a Minnesota Housing Finance Agency Conventional loan with just 3% down. www.Minneapolis-Mortgage.net

Mar 28th 2014
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David Drakeford (david_drakeford)
#0 ranked lender in California - 63 contributions

You only need 5% down with that score. Give us a call 800-446-9043 ext 801

Mar 28th 2014
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SHAHROKH CHARLES BEROKHIM (mortgageusa)
#87 ranked lender in New York - 68 contributions

5%

Mar 28th 2014
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Kevyn Wagner (mrtgman)
#16 ranked lender in South Carolina - 9 contributions

Hi Kimberlysoap51,We have a program that will get you into a home with NO down payment with that score. It offers the same low 30 year fixed rate as a 5% down loan with a lower monthly payment. Take a look here: nomoneydown.info then give us a call at 704-315-7435.

Mar 28th 2014
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William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,728 contributions

Conventional requires a minimum of 5%. FHA requires 3.5%. Without knowing your complete scenario, it's hard to say whether you can get approved or not.. Lenders will need to know your credit score along with a hundred other things as well.. you can have a 750 credit score and still get denied, so it's not just one piece that determines edibility, but rather your complete profile.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Mar 28th 2014
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Michelle Curtis Loan Originator NMLS 401173 (EmbassyFundingLLC)
#77 ranked lender in Florida - 2,244 contributions

you only need 5%

Mar 28th 2014
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Todd Glassman (Todd Glassman)
#1 ranked lender in South Carolina - 125 contributions

You need 5% down. If you have any question please feel free to call us. We are local in SC.

Mar 28th 2014
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Jay Spurlin (CFCMortgage)
#45 ranked lender in South Carolina - 24 contributions

Conventional is 5%. There is a 3% option as well as gift funds for the 5%. We are a Mortgage Broker and have many different lenders with a wide variety of options. Most of our borrowers do not quite fit the mold expected from the local banks, but yet we can offer lower rates with no extra fees. http://www.schomeloan.org or 843-215-6200

Mar 31st 2014
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