Forgotten Your Password?

Need to Register?

Question Icon

Will anyone give a mortgage with a 615 fico score with 20% down?

by harleylover240 from Mount Vernon, Ohio. Apr 2nd 2014 Reply


T.C. Strait (TCstrait)
#72 ranked lender in Ohio - 18 contributions

Just basing it on credit score alone, it is possible to qualify for FHA financing with as little as 3.5% down. Obviously there are other things to consider (previous bankruptcy, foreclosure, debt ratios, etc.).If I can be of any assistance, feel free to contact me in the office at 513-777-8383 or email tcstrait@lynxfinancial.comT.C. Strait

Apr 2nd 2014
0
0
Cory Blackburn (loansbycory)
#57 ranked lender in Utah - 11 contributions

As long as at least 10% down can be documented as your own funds then yes a 615 credit score will be acceptable. There are other requirements that are pretty minor but the biggest hurdle I see with our less-than-640 FICO program has to do with the down payment.

Apr 2nd 2014
0
0
Michelle Curtis Loan Originator NMLS 401173 (MichelleCurtisLO)
#77 ranked lender in Florida - 2,245 contributions

Only FHA,VA and USDA. Conventional requires at least a 620 credit score. You will only need 3.5% down for an FHA loan and 0 down if you qualify for VA or USDA loan.

Apr 2nd 2014
0
0
Greg Mitchell (GregMitchell)
#105 ranked lender in Illinois - 17 contributions

yes, and you wont even have to sell your Harley! Email or call me if you would like more info. Greg

Apr 2nd 2014
0
0
Michael Zuren, PhD (mikezuren)
#57 ranked lender in Ohio - 216 contributions

On FHA loans, Schmidt Mortgage will go down to a 580 middle score (reserves required). Also, a full acceptable credit report would be required. If you would like to be pre-approved for a mortgage feel free to call me at 440-953-0447 #15.

Apr 2nd 2014
0
0
Sean Young (SeanYoung)
#1 ranked lender in Colorado - 1,112 contributions

Yes you can get a mortgage with a 620 credit score and 20% down. However, it will depend on the complete credit picture. Are there credit cards you could pay down to help increase your credit score? I would talk with a local loan officer who will be able to run your credit and do a What If Scenario on your credit to see if there is anyway to improve your scores.

Apr 2nd 2014
0
0
Robert Hanson (rhanson)
#38 ranked lender in Maryland - 646 contributions

Yes, we go down to 580 scores. In fact, in some cases I can work with a 560 score (and increased down payment) Please make sure that you speak with an experienced lender who will lay out various options and intelligently discuss the pros and cons of each with you. Your pre-approval should reflect in writing that all financial documents have been reviewed. This will make for less stress and potential issues during the process as well as make it more likely for a seller to accept your offer on the home you want. I'm happy to help with the financing or just give you advice. If you need more information, or a competing rate quote call, email or use my live support button to discuss or get in touch with me. Web Address for live chat or quote is: http://www.loansfromrob.com/quote/ Email is robertlh66@verizon.net and direct phone is 240-752-7549. Good Luck -- Rob Hanson

Apr 4th 2014
0
0
Subscribe to our news feed.