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Answers (4)
- Larry Morris CMPS, "Oregon Mortgages"
- Contributions:45
Thanks for the questions Entitlements R Us, although I do not see how they are relevant to R Wallace's question and seem to be self serving.
The letters after my name are for a mortgage industry designation that I have earned. The Certified Mortgage Planning Specialist. It shows my commitment to the industry. I am sure that Ken is extremely qualified as well. You can't stay in this industry for 16 years and not be.The reason that I do not have any reviews, positive or otherwise is that the only way that Zillow allows for reviews is for a lender to respond to requests for quotes and then ask for reviews. I have chose to advertise under Oregon Rates instead of submitting a bunch of quotes. Zillow doesn't allow for clients who find me through this portal to rate me since they do not fill out a Zillow form, but are directed to my website directly. Otherwise I would anticipate that I would have a handful of good approval's as well.
I read your profile and it's hard to tell just who you are or what you do. Although you do seem to like to give your 2 cents.
The letters after my name are for a mortgage industry designation that I have earned. The Certified Mortgage Planning Specialist. It shows my commitment to the industry. I am sure that Ken is extremely qualified as well. You can't stay in this industry for 16 years and not be.The reason that I do not have any reviews, positive or otherwise is that the only way that Zillow allows for reviews is for a lender to respond to requests for quotes and then ask for reviews. I have chose to advertise under Oregon Rates instead of submitting a bunch of quotes. Zillow doesn't allow for clients who find me through this portal to rate me since they do not fill out a Zillow form, but are directed to my website directly. Otherwise I would anticipate that I would have a handful of good approval's as well.
I read your profile and it's hard to tell just who you are or what you do. Although you do seem to like to give your 2 cents.
- Entitlements R Us
- Contributions:175
Well looks like this question has been answered, cant wait to see a bunch more posts on here by loan officers reiterating the same thing that Ken posted.
By the way, how come you have letters behind your name but Ken doesn't? From 1st glance, I would think you would be better qualfiied than Ken based on your job title but after looking at both of your profiles..
Ken, 16 years in the industry and a couple hand fulls of all postitive reviews and then
Larry, 6 years in the industry, no positive customer feedback but you do have a fancy job title..
Just curious??
By the way, how come you have letters behind your name but Ken doesn't? From 1st glance, I would think you would be better qualfiied than Ken based on your job title but after looking at both of your profiles..
Ken, 16 years in the industry and a couple hand fulls of all postitive reviews and then
Larry, 6 years in the industry, no positive customer feedback but you do have a fancy job title..
Just curious??
- Larry Morris CMPS, "Oregon Mortgages"
- Contributions:45
Ken is correct. The USDA is more concerned with your ability to pay than your credit score. That said, every lender underwrites differently. Some will approve the loan if the USDA coputer gives an approve/eligible regardless of your score. Others will automatically require a manual underwrite and take into account your employment, cash on hand, debt to income, payment shock, reson for poor credit... And many others won't even look at it without a 620. It all depends on the lender.
A good broker will have access to multiple USDA lenders and help you find the one's most likely to go off of the USDA guidelines.
A good broker will have access to multiple USDA lenders and help you find the one's most likely to go off of the USDA guidelines.
- Ken Kopper
- Contributions:1578
(Currently) There is not a minimum qualifying score for USDA loans but anything less than a 620 will be given much more scrutiny. USDA is not lending you the money but simply insuring your loan so you may find that although USDA does not have a minimum credit score, many lenders may have layered guidelines for this product which DO impose minimum credit score requirements.
Hope this answers your question.
Hope this answers your question.
What is the minimum qualifying credit score for a USDA guaranteed home loan?
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- 0.0/5.0
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