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Are there lenders there that will get me 3.5% interest with score of 636?

I went to Chase bank for pre-approval and was turned down because of my credit score of 636. Are there smaller banks that will give me 3.5% interest rate. I paid all my credit balance in question on my credit report.
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February 04 2013 - Edmond
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I suggest that you meet with a loan officer at 2 local banks.  You may have a better chance.
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February 04 2013
There are lenders that will lend on a 620 at a slightly higher rate.  Don't get all crazy on having to have the lowest rate. The difference between a 3.5 & a 4% rate on a $100,000 not is only $28.38 a month.  Some clients pay a higher interest rate to get some of their closing costs paid for by the lender. 

Concentrate more on ways to pay off your mortgage early by paying extra principle every month.  Every $30 a month extra you pay on your $100,000 mortgage each month will remove 3 years off the length of the mortgage.  So if you paid an extra $60 a month, you would pay off that 4% loan in 290 months.  That also reduces the "effective" interest rate that you paid.
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February 04 2013
Seems to me that you should be able to get a mortgage.. I don't know about interest rates, though.  I recommend that you interview 3 more mortgage companies, not just banks to see what happens.  Good luck!
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February 04 2013
Did Chase inform you of what your minimum score needed to be?  Was 636 your lowest score or your middle score?

Call Financial Concepts Mortgage of Edmond and speak with Kurt or Donny and tell them Josh sent you.  

Due to Zillow's good neighbor policy I cannot give you Financial Concepts Mortgage's phone number, but if you google it, it will be at the top of your search and they are located just off Bryant between 15th and 33rd.  

Let me know what they say.  
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February 04 2013
 
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