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90 percent ltv second mortgage bad credit

what are my options? my credit score was 720 but it went down to 680 after my first mortgage by skyrimsavior83240 from Honeyville, Utah. May 20th 2015 Reply

William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,726 contributions

Your question is confusing, and realistically, without knowing all the details of your scenario, it's difficult to advise you properly.. but in general, if you're looking to do a 2nd mortgage, and your "Combined Loan to Value" (CLTV) is at or below 90%, then you might find a lender willing to do it.. 680 is not an ideal credit score, but it is within the acceptable range for most lenders.. but to know for sure what you can and cannot do, I suggest you The best advice I can give you is to contact a LOCAL mortgage broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the larger lenders.. 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

May 20th 2015
Cody Bellah (
#17 ranked lender in Missouri - 76 contributions

680 is not a bad credit score, its average

May 21st 2015
Sean Young (SeanYoung)
#2 ranked lender in Colorado - 1,112 contributions

It depends, there are local credit unions and banks who offer up to 89.99% or 90.00% loan to value on 2nd mortgages with a 680 credit score. However, it will depend on your entire credit, income, debt, asset picture. The best thing you can do is to talk with some local credit unions and banks to see what they offer.

May 25th 2015
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