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jumbo loan credit requirements

What should my credit score be if i'm trying to get a jumbo loan? by DCross_827_418 from Meridian, Idaho. Sep 4th 2012 Reply


William J Acres (William_Acres)
#2 ranked lender in Arizona - 8,000 contributions

Jumbo loans will require a minimum of 620, but it's not a guarantee.. The higher the loan amount, the higher % of down payment you will need and the higher credit score you will need.. if your credit score is that low, you are going to need at least 30% down, and you will pay above market interest rates.. 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. 480-287-5714 WilliamAcres.com

Sep 4th 2012
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Ken Burrows (mortgagesforamerica)
#20 ranked lender in Nevada - 572 contributions

It depends on the down payment or equity in the property. But generally 620 or more.

Sep 4th 2012
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Ron Pippin (RonPippin)
#26 ranked lender in Utah - 157 contributions

to get a loan, you need a 620 or better score. On a Jumbo loan, the better your score, the better your rate. Your score will also determine how much downpayment will be required.Ron Pippin801-628-7667ron@HelpMeWithAMortgage.com

Sep 4th 2012
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Linda Wintersteen (Linda123)
#3 ranked lender in Arizona - 1,252 contributions

what ARE you trying to acomplish?? have you located a home to purchase, or is this a refi?? You need to show reserves, monies in accounts, and is this fora primary home?? linda you can email me to yourloanpartnerforlife@live.com

Sep 4th 2012
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Robert Jennings (RHJGROUPlLLC)
#67 ranked lender in Georgia - 3 contributions

Is this property Owner Occ or Non Owner commercial ? 620 -640 or sfr performing pricing today is 3o year fix over 750k first of all ?Owner Occ down payment can be 10% with a 680 score base on county and city and ltv and if property listed or not listed 4.50 -5.5 5/1-7/10 libor up to 2 million loan amount we need to know if you are employed are self employed with fha guidelines maybe get an exception everything case by case rate can be as low as 3.25 all depends .......on a high balance.. 580 fico score can get hit with 2.50 points score rate could be 5.8%plus 2.5 hit have to bring in 2.5 -3 points not guaranteed cap rate high balance 30 year fix loan 3.25 pay down 2.50 credit score can be government backloan . We only have 1 lender that can do this but we want know until you send me something to be sure .....

Sep 4th 2012
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