Profile picture for elrief1

can i qualify for a mortgage with credit scores of range 620-659?

  • May 03 2012 - Hampton
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Answers (4)

Profile picture for Ofe Polack
The score works, now have a word with a lender and see if the rest of your financial profile works out too, for whatever programs suits your needs.  Good luck!
  • May 03 2012
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That should be fine, yet as they said the score is one of a number of factors considered for a loan. Others are debt to income ratio. Assets and others The loan officer will evaluate your entire financial picture and advise you as to what the maximum amount that you qualify. Now the maximum amount is not necessarily what you might want to spend, feeling confortable with the amound of debt and having cash for other expenses will dictate what you personnally should spend in a home. Good luck
  • May 03 2012
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That credit score is fine.  It'll have to depend on the rest of your report and your income and job history. 

Check with a good Loan Officer and they will be able to help you out.  If you would like me to refer you one. Feel free to email me.

Hope that helps. Thanks
  • May 03 2012
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Yes, assuming you are eligible for the appropriate loan program. On FHA we have a minimum credit score of 620 but rural housing, VA, and conventional we don' t have a minimum credit score. 

Whether or not you qualify on FHA depends on purchase price/loan amount, employment, and of course your credit profile setting FICO score aside (i.e. no foreclosure in last 3 years, chp 7bk in the last 2 years)
  • May 03 2012
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