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can we get a morgage with a credit score of 608

by tina.gonzales393 from Bakersfield, California. Jun 1st 2016 Reply


Yes. Actually you can get a mortgage loan with a credit score down to 500.John.clhp@gmail.com

Jun 1st 2016
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Lorne Harvey (lorneharvey)
#80 ranked lender in Washington - 431 contributions

I would recommend checking in with a local mortgage loan originator, and finding out what action items are needed that may bring your score up to a 620, or a 640. The loan process will be much easier for you.

Jun 2nd 2016
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Joe Metzler (JoeMetzler)
#19 ranked lender in Minnesota - 3,981 contributions

Yes, no, and maybe... In theory, it is possible to get a loan with a 608 score. This is a weak score, and most lenders automatically will deny you because of that score. A small few may look at you, but generally speaking, remember that credit score alone does not get you an approval. My experience is that with that low of a score, there are other things on the report that will end up getting you denied. Most would agree, work on repairing your report before applying for a home loan.

Jun 2nd 2016
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William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,726 contributions

Much more info needed to answer your question. Lenders look at the lowest MID score of ALL borrowers, of all 3 major credit reports to determine if your credit score is within the acceptable range.. you only provided one score.. Also, certain lending programs have minimum credit score requirements.. Most conventional programs require a minimum of 660, but there are lenders who will go as low as 620.. FHA only requires a 500 mid score, but good luck finding a lending willing to lend to someone with a score that low.. Plus, each lending program will have a maximum loan amount.. FHA for example, in most of the country is $271,050.. while conventional financing will go as high as $417K.. If you are looking in a "High Cost" area, then these loan amounts will be higher.. (Bakersfield is NOT in a "High Cost" area).. The other pressing question is "Why?".. Why is your score so low? BK? Foreclosure? Short sale? Judgments? Unpaid student loans or unpaid taxes? Collections? etc... you could have a 750 credit score, yet with one of these deficiencies, you still might be denied.. Without looking at the complete picture, it's impossible for anyone here to say.. yes or no.. For this reason, I suggest you 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 WilliamAcres.com NMLS# 226347

Jun 2nd 2016
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Larry Gray (lgray_312_247)
#593 ranked lender in California - 1,139 contributions

Yes you can. I would be happy to assist you in qualifying and quotes. You can reach us via my profile.

Jun 2nd 2016
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