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FICO 650....Can I get A Loan

I have a pretty low fico, at 650 currently. I am looking to borrow around 150,000 Should I attempt to get a mortgage? or work with someone to improve this score? Who can help I am in Houston Texas. by billj38 from Houston, Texas. Jul 21st 2010 Reply


Gregorio Denny (GVDenny)
#255 ranked lender in California - 380 contributions

Go ahead and apply, a 650 won't disqualify you; the reasons for the 650 may however, depending on what they are.

Jul 21st 2010
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Matt Baker NMLS#190779 (MattBaker)
#32 ranked lender in Arizona - 75 contributions

I am in AZ, but FHA which is the government program that allows a 3.5% down payment with a credit score 620 or higher typically. So you are fine with the credit score. Of course they are gong to want to review the credit to make there are no issues, if there are you will need to address them upfront once your lender pulls your credit. I hope this helps.

Jul 21st 2010
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Richard Woodward (RichardWoodward)
#39 ranked lender in Texas - 106 contributions

Your credit score of 650 is fine for a low down payment FHA loan. You will get the same rate as someone with a 800 credit score. Call me and I will be happy to help you purchase your new home. 866-430-7767 I am in Dallas but with our digital application and processing system we will make the process very easy.

Jul 22nd 2010
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Todd Tholl (toddtholl@leader1.com)
#4 ranked lender in Iowa - 239 contributions

You'll qualify for an FHA loan with 3.5% down.

Jul 22nd 2010
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Rick Carrier (rickcarrier)
#28 ranked lender in Texas - 28 contributions

Sure thing. The score should not be a problem. I can assist you with any score above 620 with an FHA loan. We are a direct lender with in house processing, underwriting, and lend with our own money. We specialize in assisting our clients improve their scores and help get them into homes quickly. You can apply online at www.ushomelender.com or call me at 713-821-9712.

Jul 21st 2010
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