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if my credit score is 640 what kind of interest rate would i qualify for a home mortgage

by wanda7980835 from Midland, Texas. Nov 28th 2016 Reply


Cody Velkovich (Cody_NRL)
#5 ranked lender in Texas - 83 contributions

Hey Wanda, that would depend on multiple different factors, such as loan program, down payment, etc. To give you a general idea, the national averages for top-tier buyers will range around 3.75% for Government loans (FHA, VA, USDA) and around 4.25% for Conventional loans as of today. A 640 FICO score will be close to these numbers, although the pricing (cost for a particular rate) may be a little higher. For instance, if the rates above are at PAR (or no cost to the buyer) then they may cost someone with a 640 FICO a 0.25 point (or 0.0025%) of the loan amount as an additional cost, which is usually tax deductible. Feel free to reach out to me through my profile if you're interested in getting qualified to purchase.

Nov 28th 2016
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Vadim Bogdanov (vb@utmostpro.com)
#1242 ranked lender in California - 8 contributions

Get an Instant Rate Quote, No Private Info. Required, No Fee, and No Obligation.http://utmostpro.com/refinance-purchase-mortgage-rate-quote/

Nov 29th 2016
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Joe Metzler (JoeMetzler)
#21 ranked lender in Minnesota - 3,262 contributions

Your actual interest rate varies on many factors. Loan program, and credit score are the big ones, as is what you pay in closing costs. For example, I can give someone a lower rate, but you pay more in closing costs. I can give someone really low closing costs, but you'll get a much higher interest rate. I suggest talking with a local mortgage broker in your area for a better look at your personal situation. For loans in WI, MN, and SD, visit me at www.WI-MortgageBroker.com

Nov 30th 2016
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Josh Lund (Josh_Lund)
#50 ranked lender in Minnesota - 113 contributions

What kind of loan are you looking to qualify for? Purchase price? Term?Josh LundGold Star Mortgage - Branch Manager

Nov 30th 2016
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