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Can i get conventional financing with 695 credit?

Does it have to be above 720 even with low DTI and good income? by morriskwelles9289845 from Nampa, Idaho. May 20th 2014 Reply


Linda Miller (Linda Miller)
#2 ranked lender in Utah - 567 contributions

Yes, you can. Your rate might be about .125% higher. Also your mortgage insurance might be a bit higher as well - depending on how much you are putting down. There might be a couple of ways to move your score up to 720 - paying down the balance on a couple of cards generally can get you 20 - 30 points. Call me and I will be happy to review you situation. I am all about information without obligation. Linda Miller 801.550.1222.

May 20th 2014
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Mike Silkworth (msilkw_195_870)
#30 ranked lender in Michigan - 527 contributions

A credit score of 695 is allowed with conventional financing. If your score were higher, your would qualify for better terms however. So if there were something you could do to get a 5 point bump, it would help lower your interest rate and your Mortgage Insurance rate if it's needed.

May 20th 2014
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Shaun Weeks (sweeks)
#899 ranked lender in California - 106 contributions

Conventional financing will go down to a 620 score so you will be fine. Let me know if you need any assistance.

May 20th 2014
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Jarrod McOmie (Jarrod)
#13 ranked lender in Utah - 120 contributions

A 695 credit score is high enough for you to obtain conventional financing. You will need to make sure that all other loan parameters are met. If you are looking for a good, honest Loan Originator - give me a call. Jarrod McOmie, 801-750-3998, or email me at: jarrod.mcomie@snmc.com Have a great day!!!

May 20th 2014
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