Zillow Advice RSS: Question-Discussion-Guide,Credit Scores,Baton Rouge- LA http://www.zillow.com/advice/Baton-Rouge-LA/mortgage-credit-scores/question-discussion-guide/ Zillow Advice search results | Zillow Real Estate Looking for a bank for a construction loan with 617 credit score... http://www.zillow.com/advice-thread/Looking-for-a-bank-for-a-construction-loan-with-617-credit-score/473651/ My situation may be a little long, but my husband and I have been planning for a while to build a house for a few years now and we have hit a road block. Two months ago we went to the bank we would like to use and went through the process of being preapproved. With a credit score of 680, we were good to go, but decided to wait until the holidays were over to start. We have also been saving so have a good bit saved&nbsp;along with the fact that we own our land free and clear so have a good bit of equity. We went to the bank yesterday will all of our paperwork filled out and when they ran our credit it had dropped to a 617. Now the bank won't approve us, but let me give some back ground information. We have NO credit cards, NO bad debt, NOTHING! The only thing we have is 2 car notes that have both always been paid a month in advance, so no problems there. In October 2012 when we opened a new bank account&nbsp;and they&nbsp;were offering low interest rates on vehicle loans so we refinanced to save a little. HOWEVER before we did that we explained our situation of building a house soon and that we&nbsp;didn't want to do anything at all to effect our credit and we were reassured that it wouldn't. Well they were wrong!! Since we refiananced it is now showing on our credit report as new credit and in return we took a HUGE hit to our score! Now we can not be approved through our bank for a construction loan. Whats even worse is the bank ran the report the first time and they have the copies of each and know why it took the hit that it did because they explained it to me but we still can not be approved. It is heartbreaking to have been told this and now we are at a stand still and they advised us to wait 6 months and try again. We do not want to wait. It takes 6 months to build a house and in that building period our score will have increased! Any help, suggestions, or names of banks that may help is greatly appreciated!<br \><br \>6 replies Tue, 08 Jan 2013 22:05:00 GMT http://www.zillow.com/advice-thread/Looking-for-a-bank-for-a-construction-loan-with-617-credit-score/473651/ 2013-01-08T22:05:00Z Construction loans http://www.zillow.com/advice-thread/Construction-loans/463274/ I'm a stay at home mom married to a 28 year on the job police supervisior. My credit score is between 620 and 638. My husband although he has the income and steady job has much lower scores. We own 10 acres of land and would like to build a home. How can we qualify for financing?<br \><br \>1 reply Tue, 09 Oct 2012 08:16:00 GMT http://www.zillow.com/advice-thread/Construction-loans/463274/ 2012-10-09T08:16:00Z