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What does my credit score need to be to get a conventional loan

by samwittier27638142 from Headrick, Oklahoma. Mar 20th 2015 Reply


Stacye Beaver (sbeaver)
#15 ranked lender in Oklahoma - 3 contributions

Credit score needs to be 620 for a Conventional loan

Mar 20th 2015
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Pete Bass (PeteBass)
#31 ranked lender in Connecticut - 476 contributions

620 Middle score- for more information e-mail me at pete.bass@everbank.com

Mar 20th 2015
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,439 contributions

From a realistic standpoint, you want it as high as possible. Most lenders will not offer anything below a 660 or maybe a 640. While technically a 620 is possible, a score that low will usually get you denied for whatever is on your report that is getting you that low score. The next item is that on conventional loans, your interest rate varies greatly based on score. Someone (today) with a 750 score might get 3.75%. Someone with a 680 score might be 4.125%, and someone with a 640 might be 4.50%. I lende in MN, WI, and SD. Visit www.MortgagesUnlimited.biz

Mar 21st 2015
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Sean Young (SeanYoung)
#2 ranked lender in Colorado - 1,106 contributions

620 is the minimum middle credit score for a Conventional loan. The higher your credit score the better your interest rate will be. Speak with a local loan officer, share your information and have them present you with all of your available options. Best wishes, Sean

Mar 21st 2015
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Gordon Dempsey (travlerm)
#27 ranked lender in Virginia - 26 contributions

I work with a direct lender that lends in Oklahoma that does not look at or even consider your credit rating. It does not matter if you have had a foreclosure or bankruptcy in the past. This private funded loan relies on your ability to repay the loan. Your income must be proven and documented in order to qualify. The mortgage loan will be a 30 year fixed with no prepayment penalty with a very loan interest rate. Please give me a call about this new funding program Gordon N Dempsey 540 354 9690

Mar 21st 2015
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