Forgotten Your Password?

Need to Register?

Question Icon

credit 693 worried i can't do conventional mortgage

been told 693 is acceptable but worried because credit is a far cry from what it was before it plummeted after i was involved in a lawsuit almost 2 year ago and missed 2 car payments. i DO have 20% to put down, and have been in my same job for 8 years. am i salvageable by carlisle7679967 from Delran, New Jersey. Sep 24th 2014 Reply


Paul Sheridan (paul@njlendingsource.com)
#21 ranked lender in New Jersey - 16 contributions

Your score IS high enough for Conventional. If you want be to prequal your for free and run some payment scenarios for you just give me a call direct at 732-359-6002Paul J. SheridanSr. Home Loan ConsultantThe Lending Source Ltd.877-808-3897(Toll-Free)732-485-7272(cell)973-215-2343(Fax)NMLS ID 270490The Lending Source Ltd.www.NJLENDINGSOURCE.com156 Woodport Rd. Suite 1DSparta, NJ 07871NJ Licensed LenderNJ Dept of Banking & InsuranceNMLS LENDER ID 269538

Sep 24th 2014
3
0

Sure give me a call Michael Grande 973-650-4601

Sep 24th 2014
2
0

You won't have an issue. Find a knowledgeable broker or lender. Happy to help anyway I can.Corey Gee Perennial Funding 610-233-0098

Sep 24th 2014
2
0
Sharon Duffy (sduffy)
#72 ranked lender in Pennsylvania - 595 contributions

Hi there!..No worries your score is very doable conventional. Please give me a call and we can go over the details..I am local in Sewell, NJ...Sharon732 606 6264

Sep 24th 2014
2
0
Dan Paladin (dpaladin)
#1 ranked lender in California - 448 contributions

Yes...you are. In regards to a conventional loan you will be subject what we call loan level price adjustments which means you will have a slightly higher rate than say someone with a 760 fico score. So you "loanable" based on the info provided here.Regards and good luck!!

Sep 24th 2014
2
0
William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,044 contributions

There is a slight pricing adjustment for borrowers with a 693 vs a 740.. Your score is defiantly acceptable. But understand that by waiting for your score to improve, the rates could go up marginally compared to the slightly higher price you would pay today. 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

Sep 24th 2014
2
0
Mona Hulteen (mhulteen)
#23 ranked lender in New Jersey - 49 contributions

Yes, you are salvageable. I could get you a mortgage with the scenario that you put forth.

Sep 27th 2014
0
0
Subscribe to our news feed.