Profile picture for Cobrand Demo4

XYZ Brokerage

Email: ryan@xyzbrokerage.com

Phone: (206) 555-1234

Website: www.xyzbrokerage.com

Back to Results

Tools

Partner Tools


I have a "fair"credit rating can I get a loan?

Profile picture for plutobeach
borrow 155k, annual gross income 72k. Will I get a decent loan rate?
  Flag content
Close
Report a Problem
Close
Content Flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
August 07 - Windermere
RSS

Answers (5)

Profile picture for Steve Jacobson
Mortgage Lender

Lender rating

5.0/5.0

View ratings and reviews

Contributions: 69
Zillow All-Star

Since November 2009

Hi Plutobeach,

Many loan programs are available. Rates are at their lowest level in decades so you should get a great rate.

Best, Steve
  Flag content
Close
Report a Problem
Close
Content Flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
October 21
Fair credit score sounds like a 620 or above anyways we can do as low as 580. Credit score is not the only factor to consider when getting a loan. Your first step it's to get prequalify by a professional and you should be good to go.
  Flag content
Close
Report a Problem
Close
Content Flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
October 21
Profile picture for Gainesville Realtor
Real Estate Agent

View my 4 listings

Contributions: 176
Zillow All-Star

Since August 2009

A score of 620 will get you an FHA loan - but that is about to change - and some banks will be requiring a 630 or 640.

https://www.annualcreditreport.com/cra/index.jsp 

The 3 C's of borrowing are Capacity (income), Collateral (home value to be secured against), and Creditworthiness.

You need to find out exactly what your score is and talk to a lender. With just a few questions, a lender should be able to tell you in about 5-10 minutes whether or not you can qualify for a loan.
  Flag content
Close
Report a Problem
Close
Content Flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
August 07
Profile picture for Mark Wilkins
Mortgage Lender

Lender rating

3.3/5.0

View ratings and reviews

Contributions: 255
Zillow All-Star

Since October 2009

If you have over a 620 you can get a FHA loan as long as everything else checks out. 
  Flag content
Close
Report a Problem
Close
Content Flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
August 07
Fair is better than bad, what is the score? For most sites fair is good enough to get a loan.
  Flag content
Close
Report a Problem
Close
Content Flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
August 07
 

Have a question? Ask it here.

What's this?
Close

By starting a discussion, you can expect more of an interactive, back-and-forth experience where the conversation can go in many different directions.

Or start a discussion

 
Top Lenders
Ratings
Subscribe via RSS
  1. 5.0/5.0

    57 reviews
  2. 5.0/5.0

    48 reviews
  3. 4.9/5.0

    46 reviews
  4. 4.9/5.0

    57 reviews
  5. 4.8/5.0

    50 reviews
Related Questions
Question I have a "fair"credit rating can I get a loan?
  • Latest answer by Steve Jacobson
  • October 21
Need a Mortgage?

Zillow Mortgage Marketplace

  • Competitive rates
  • Accurate, custom quotes
  • Thousands of lenders

... and, it's free and anonymous

Get instant mortgage quotes
Estimated purchase price Current mortgage balance Desired loan amount
98104

Learn about Zillow Mortgage Marketplace

Zillow Poll:
Suggested by Charlie Mader
Where is the best place to live in California?
Be A Good Neighbor

Zillow® Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy

pageName