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credit score ?

Is it possible to get a home loan with a credit score of 620-645, w 8 yrs work history in todays econ. Atmosphere or should i spare the hit on my credit one more yr? by missbo_247_488 from Bixby, Oklahoma. Mar 26th 2012 Reply


William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,550 contributions

Absolutely... I only lend in AZ, and we have several lenders who will lend down to 580... Contact a local mortgage broker, not a bank, and apply with them.. they have access to numerous lenders and can find the right one for your particular scenario.. WilliamAcres.com

Mar 26th 2012
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Steve Cooley (steve.cooley)
#5 ranked lender in Oklahoma - 12 contributions

I can do loans down to a 600 score and I am in Oklahoma. If you would like shoot me your contact information and I will call to discuss this further. My email is closewithcooley@gmail.com or you can call me direct @ 405-831-4457.

Mar 26th 2012
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J.D. Peck (MortgageColoradoSprings)
#45 ranked lender in Colorado - 77 contributions

Each lending institution will have different guidelines and investor overlays, but yes you can. I'd recommend contacting a local broker rather than a bank.

Mar 26th 2012
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Bert Carpenter (BertCarpenter)
#38 ranked lender in Arizona - 1,819 contributions

By all means, start the process. These scores should not hamper your ability to obtain an FHA loan. Work with a local Mortgage Banker/Broker, rather than one of the big banks. Unlike a bank employee, who is most likely just an order taker, a Mortgage Broker/Banker is Trained, Tested and Licensed in all aspects of Mortgage Origination. He/She will have access to loan products of many lenders, not just those of one bank, and can properly guide you. But more importantly, He/She is trained to take a look at the various different options available to you and guide you into the one that makes the best sense for your situation. Don't forget to check out your selected Mortgage Originator at the National Mortgage Licensing System at www.NMLSConsumerAccess.org ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com

Mar 26th 2012
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James Barath (JamesBarath)
#10 ranked lender in Indiana - 351 contributions

Credit score qualifying and credit qualifying are not the same. Although you can credit score qualify, you may not credit qualify. Reach out to a local mortgage banker who can review your credit and provide guidance. If you don't want to have a hard inquiry, then go pull a self-inquiry through myFICO.com to see where you stand without the negative impact of a hard inquiry on your report. Still speak with a local mortgage professional to start the process and get you on a clear path to homeownership.

Mar 27th 2012
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Melvin List (melvinlist)
#143 ranked lender in Florida - 124 contributions

Make copies of the following and go see a local mortgage broker!W-2 Forms for the last 2 years30 Days of Pay stubs60 days of your most recent bank statementsA copy of your Drivers License.I only lend in Florida!

Mar 27th 2012
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