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Can you get a morgage with 650 credit and 5% down?

by james.roden350 from Midland, Texas. Mar 17th 2014 Reply


Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 4,316 contributions

Most mortgage programs will allow a 650 score with 5% down. But remember, credit score alone does not make a loan approval. There are still many other facets to loan approval.

Mar 18th 2014
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Cody Velkovich (Cody_LendFriend)
#164 ranked lender in Texas - 101 contributions

James, for sure. A Conventional Loan would be 5% down and an FHA loan is 3.5%. Give me a call sometime and we can discuss the options on exactly what you're wanting to do.

Mar 17th 2014
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Yes you can.

Mar 17th 2014
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shoot me an email with your contact information and I will give you a call. You can get an FHA loan or a conventional loan.

Mar 17th 2014
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Yes sir you sure can. Call me and we can discuss your options . Or go to my website and apply. Leticiabotkin.supremelending.com. No www.

Mar 17th 2014
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Michelle Curtis Loan Originator NMLS 401173 (EmbassyFundingLLC)
#77 ranked lender in Florida - 2,244 contributions

Yes you can!

Mar 18th 2014
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William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,728 contributions

Most lenders require a 640 or above credit score for FHA financing.. and FHA only requires 3.5% down payment.. But understand it takes more than a credit score to get approved... foreclosure? Short Sale? Bankruptcy? Unpaid Taxes? Unpaid Student Loans? You could have a 750 credit score and have one of these deficiencies and still not get approved.. so it's best you contact a LOCAL mortgage broker and apply with them. Once they see your complete profile, only then will they be able to advise you properly.. Do not use the local "Big" bank, or one of those 50 states internet lenders or nationwide lenders...By applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower 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

Mar 18th 2014
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Larry Burklow (LBurklow@cmgfi.com)
#191 ranked lender in Texas - 8 contributions

Hi James, It's possible to get a conventional at 5% down with a 650; by improving to 660 your rate/payments will be lower. Call Me

Mar 18th 2014
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Jericho Cherry (Jerichocherry)
#56 ranked lender in Virginia - 1,107 contributions

Yes you can, providing you meet all the other qualifications.

Mar 18th 2014
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Sean Young (SeanYoung)
#2 ranked lender in Colorado - 1,112 contributions

Yes that score is high enough for a FHA, VA and Conventional. However, it will of course depend on your full credit and income picture for an approval. I would contact a local loan officer and start the pre-approval process before you start looking at property. Best wishes, Sean

Mar 18th 2014
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David Drakeford (david_drakeford)
#0 ranked lender in California - 63 contributions

Absolutely, Conventional OR FHA your choice. Give us a call 800-446-9043

Mar 18th 2014
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