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What is going rate on FHA mortgage with credit score 635?

by camilabereford910 from Fraser, Michigan. Sep 22nd 2015 Reply


There are way too many variables to just throw a riate out there. Please call me so I can get all of your specific information in order to better answer the question. 517-489-2440

Sep 22nd 2015
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Richard Lurie (rll411)
#51 ranked lender in Illinois - 8 contributions

I offer the best available mortgage rates available so please make sure you call me to get a quote....773-289-8975. 635 is fine given that you meet the guidelines which we can review over the phone. Thank you, Richard

Sep 22nd 2015
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,055 contributions

Much more info needed to properly answer your question.. What are you purchasing? ( SFH, MFH, Condo?) each one of these property types have different rates.. How much are you borrowing? Larger loan amounts have lower rates.. What are all 3 of your scores? Lenders run a "Tri-Merge" credit report on ALL borrowers, and they use the LOWEST MID SCORE of ALL borrowers to price your loan. I could go on, but i'm sure you get it by now.. Understand that no competent loan officer would ever quote you a rate based on just a credit score on a web blog.. and anyone who does, is probably someone you should avoid using.. you would be setting yourself up for disappointment.. if you are serious about buying, then you should ditch the "internet" and pick up your phone and contact a LOCAL mortgage broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the larger lenders.. 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. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347

Sep 22nd 2015
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Jesse Stroup (jessestroup)
#4 ranked lender in Idaho - 591 contributions

Interest rates vary depending on if you are looking for a Rate and Term refinance compared to a cash out refinance. There are many factors involved in a loan to be able to state an interest rate.

Sep 23rd 2015
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Jesse Stroup (jessestroup)
#4 ranked lender in Idaho - 591 contributions

Lenders may have over lay when it comes to credit scores, Wells FArgo just increased the minimum credit scores from 640 to 660. In this case no loan or rates can be given.

Sep 23rd 2015
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Mark Hemingway (SFSLend)
#1 ranked lender in Colorado - 598 contributions

Contact a qualified mortgage broker to go over your options. More info is needed to provide you with a rate. Need to know the purchase price, loan amount, type of property you are buying, and all three of your credit scores. Also if these are credit scores that you are getting from one of the online services where you can personally check your own credit, then you will definitely want to make sure that you have your credit checked by a mortgage broker or lender. The reason is the credit score you can obtain are typically higher than what you will get when a creditor checks your credit. This is due to the algorithms that creditor's credit agencies use to pull credit.

Sep 25th 2015
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