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What is the minimum down payment for mortgage under 579 credit?

by JarredTraglia177 from Mesa, Arizona. May 22nd 2014 Reply


Michelle Curtis Loan Originator NMLS 401173 (EmbassyFundingLLC)
#28 ranked lender in New York - 2,238 contributions

10% if you have a 579 middle score speak with a local mortgage pro, odds are they can help you get the 1 point needed to be a 580 middle score, then you will only need 3.5% down.

May 22nd 2014
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Jamie Lynne (nationwidelenderforyou)
#142 ranked lender in Texas - 576 contributions

If you are eligible for a VA loan, we go down to a 530 middle credit score and offer 100% financing (0% down payment). For an FHA loan we go down to a 530 middle credit score, but you will need 10% down. We could run a credit simulator, to determine how to raise your credit scores, so you you could put less down, if you want an FHA loan. Let's discuss your loan scenario in more detail. Contact me at 800 315 8803. My name is Jamie and I have been in the mortgage business since 1989. I am happy to answer your mortgage questions, 7 days a week and review your loan scenario. Until then, I look forward to hearing from you. Jamie Lynne - www.bartprequalifies.com - email Jamie@bartprequalifies.com - 800 315 8803

May 22nd 2014
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Kevin Kelly (KevinKelly)
#141 ranked lender in Arizona - 4 contributions

Hi, thanks for your question. I am a locally based lender who can help you with this. As Team Best Mortgage Option Mentioned below, you are not far off from putting you in a situation that will greatly reduce your down payment. The first step would be to do a full credit review to see how we can improve those scores quickly and easily. Short of that, we would be looking a minimum down payment of 10%.Please let me know if you have any other questions or when you would like to begin.Kevin Kelly - kkelly@amerifirst.us (480) 289-7632

May 22nd 2014
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Sean Young (SeanYoung)
#2 ranked lender in Colorado - 1,110 contributions

Anything below 580 credit score FHA will require a 10% down payment. Sean

May 23rd 2014
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