Credit Score in Las Vegas>Question Details

Shannenjacks…, Home Buyer in Long Beach, CA

If you put down 30,000 down on a house with credit score of 620 what are your payments

Asked by Shannenjackson22, Long Beach, CA Thu May 29, 2014

Help the community by answering this question:


It would depend on the purchase price, loan amount, loan terms, etc.

I recommend you speak with a reputable lender and have them run your scenario. From there they will be able to advise you on your options and payments.

If you need a referral to a lender please shoot me an email I would be happy to point you in the right direction.

Best Regards,
Robert Adams
Dual Licensed Real Estate Broker NV#62827 MA#9530304

NV Broker & Team Leader of The Adams Team at Rothwell Gornt Companies

MA Broker at Sankey Real Estate
C: 508-250-0345
O: 508-543-8060
F: 508-643-1515
0 votes Thank Flag Link Mon Jun 2, 2014
Hello Shannen,
I would be more than happy to assist you with your questions. What is the purchase price you seek? That will allow me to take a look at the loan to value of the scenario. Also, are you interested in conventional financing or FHA financing?

With a short phone call, and a quick application using the link below.....I can help you get all of your questions answered quickly and precisely so you can bid with confidence on you purchase. I look forward to hearing from you!

Check me out at the link below and get your free approval today!…

Thank you for choosing City First Mortgage Services,

Nathan T. Kessler | Sr. Mortgage Loan Originator

City First Mortgage Services
8871 W Flamingo Rd Suite 202
Las Vegas, NV 89147
(C) 702.683.3126 | (F) 702.974.0848 | (O) 702-522-6743
Company NMLS # 3117 | Branch NMLS # 819501
Individual NMLS # 377217 NV #46175
0 votes Thank Flag Link Mon Jun 2, 2014
Hi Shannen

I would like to provide a exact price/number but there are many factors to consider. Just to name a few the interest rate, how many years you want to finance, taxes and insurance to name a few.

I strongly recommend just as you should speak with a few realtors in determinng who you will work with, speak with several respected loan officers.

Hope This Helps !!

Ken Marable
Realty One Group
702 557-5722
0 votes Thank Flag Link Mon Jun 2, 2014
Way too much missing information in your question to answer. What is the price of the house? Do you want that figure to include taxes and insurance? If so, what are your annual property taxes and how much will your insurance be? What kind of loan are you getting (ie, will any type of funding fee need to be figured in)? What interest rate are we looking at? Really, this is a bank question anyway.
0 votes Thank Flag Link Sun Jun 1, 2014
It depends on the price of the house.

Don't Let Them Make a Monkey Out of You! Follow the link below.

Alysse Musgrave
Consumer Advocate/Exclusive Buyer Broker
#1 Best Selling Author of Buying a Home: Don’t Let Them Make a Monkey Out of You!
0 votes Thank Flag Link Sat May 31, 2014
Hi Shannen,

The good news is, your credit score is just fine and will allow you to qualify for either a conventional or an FHA loan at the current market rate. But it's impossible to say what your payments would be without knowing the price of the home you are looking at? Have you picked out a neighborhood or a specific property yet?

Just to give you an idea, if you are looking at a $100k home with $30k down payment on a conventional loan at 4.5% on a typical 30 year loan, your monthly principal and interest payment would be $355 a month plus about $83 a month in taxes and $25 a month for homeowner's insurance. That would be a total of $463 per month. (Monthly association fees would be extra.)

You can pretty much double that payment for a $200k home, except that you would also have an additional monthly mortgage insurance premium of about $74 because you would not have a full 20% down payment.

To get more exact figures, you would need to give us an exact home address and sales price. I have a great local lender that I can recommend to you that charges ZERO closing costs and had low interest rates. Feel free to contact us about that at:

Hope this helps!

Diann Tonnesen
Berkshire Hathaway HomeServices

The Tonnesen Team - with over 30 years of experience helping families call Las Vegas "home!"
0 votes Thank Flag Link Sat May 31, 2014
There are a few other factors to consider, taxes, HOA, insurance, MIP, purchase price, etc. I would reach out to a good local mortgage broker who can get you a good faith estimate on a property. Good luck !
Web Reference:
0 votes Thank Flag Link Thu May 29, 2014
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