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Answers (6)
- Justin S. Tulman, "JTulman33"
- Contributions:2
Your score should not deter you from moving forward. Your large down payment making your Loan to Value very low shows strength within your overall scenario. I have a few lenders in the Metro West/Middlesex County that would have no issues with your current scenario. They and I welcome the opportunity to compete for your business. There are a couple of different mortgage products that your qualify that they could offer you.
- Robert Lowery, "Bob Lowery"
- Contributions:2097
The score is fine, but it will depend on your credit history over the last 12 months and if there are any outstanding issues, they would need to be addressed. With that down payment, there should be no adjustment to your interest rate for that score.
- David Nezri, "Direct Lender"
- Contributions:265
You will qualify for a loan. If you can bring your score above 680 will be better & the rate will be lower.
Good Luck.
Good Luck.
- Heidi Zizza, "Heidi Zizza REALTOR"
- Contributions:724
663 is not bad, as long as you are over 620 you are fine. You have an almost 50% deposit however you really should go single family with type of deposit or at least a townhouse.
- Rudi Hofmann, "LUXURY HOME LOANS CA"
- Contributions:7435
You would also be in a better position, today and in the future, selecting a single family residence, instead of a condominium.. .... Happy funding, Rudi
- Hamp Yonce, "Zilluminati"
- Contributions:3463
You should be OK. Is your income verifiable? Your score is on the low side, for a Conventional loan. The large Down Payment may be a compensating factor that would overcome the lowish score. You could also try to bring your scores up by having a real pro examine your report, and suggest possible helpful remedies. If you could get to 680, you would be in a much better position.
Want to purchase a condo, $215K With 100k down, credit score 663, am I eligible for any type of loan
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