Posted on: 01st Jul, 2012 11:44 pm
Hello everyone. In the next 2 months, I need a mortgage. I have no debt. My salary is around $120k annually. But I don’t have good scores - 627 TU 612EQ 595EX. Can I get a conventional mortgage?
Conventional mortgages are available at a credit score of 700 or more. With the credit scores that you have, it will be difficult for you to get qualified for a conventional loan. You can apply for FHA loans with these credit scores.
I think your salary are enough to get a mortgage loan so please provide me a more information about it in this thread so than I can assist you on this matter.
Conventional mortgages require a minimum credit score of 620.
Same for FHA, except, there are some lenders, not many, who do credit scores below that. Scores below 620 may require 10% down payment rajhter than the minimum 3.5%.
I have no idea where those responding to your question above me get their information from. They have very little idea what they are talking about.
Same for FHA, except, there are some lenders, not many, who do credit scores below that. Scores below 620 may require 10% down payment rajhter than the minimum 3.5%.
I have no idea where those responding to your question above me get their information from. They have very little idea what they are talking about.
