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Conventional loan in Oregon?

im shopping for a conventional loan of $90k. my middle credit score is 760 and my debt to income is about45% by lucasicelander09716 from Summerville, Oregon. Jun 3rd 2015 Reply


Derick Condron (rightstartoregon)
#33 ranked lender in Oregon - 597 contributions

There are a few more details that will make a difference. Is this a purchase or refiance transaction? What is the Loan to Value on the property and combined loan to value if there are any other debts being tied to the property? What type of property is it? Typical 45% will be the max debt to income ratio that will hold an approval. Would love to help you more. Call me at 503-510-8290 or email me at dcondron@rightstartmortgage.comThanks,Derick

Jun 3rd 2015
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Lorne Harvey (lorneharvey)
#81 ranked lender in Washington - 419 contributions

I would be happy to answer your questions. I can be reached at lorne@gobestloan.comThank you,Lorne HarveyAmerican Pacific MortgageNMLS 227839/1850

Jun 3rd 2015
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,055 contributions

Much more info is needed to determine your eligibility, but in general.. most lenders require a 640 or above MID score, (determined by looking at all 3 major credit bureaus) and DTI cannot exceed 45%.. But without looking at your complete loan scenario, it's impossible to say.. I've had borrowers with 760 credit scores get denied because they had a credit deficiency that was not acceptable to the lender.. 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 WilliamAcres.com

Jun 4th 2015
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