Sr. Mortgage Banker
NMLS # 659743
If you owe anything on credit cards pay them off or pay them down to below 40% or ideally 30% of their available credit limits. This is a fairly large factor. Somebody with 90% credit utilization and a perfect credit history would have a credit score of say 650 or even possibly lower even without any late payments while a person using 30% or less would be in the mid to upper 700 range. So balances count and pay it off ASAP as you never know when the creditor updates it's info with the credit bureaus.
If you would like to see what I can possibly do with your current score please let me know... FHA rates are still great and you can also get a very large lender credit to help you with the closing costs in addition to the down payment assistance. This would allow you to come to the table with whatever your minimum down payment amount necessary after the credit for the program you are using.
Also, because I broker at the wholesale level I actually have many lenders who can most likely get your loan done for you.
Hope this helps.
Don Groff | REALTOR® & Mortgage Broker
Austin Real Estate Pros & 360 Lending Group
o 512.669.5599 | m 512.633.4157 | firstname.lastname@example.org
websites: http://www.AustinListed.com | http://www.360LendingGroup.com
Sanjeev Ahuja, NMLS #148731
Home Funding LLC
110 Jericho Turnpike Ste 214
Floral Park, NY 11001
Direct Phone 917-517-2552
NYS Registered Mortgage Broker, Dept of Financial Services, Loans arranged through third parties (NMLS # 885573)
You're probably just talking to the wrong lender. 640 is not an industry wide cutoff. Some lenders can go as low as 580. Our company goes down to 600.
Now when you get below that 640 cutoff there may be some additional requirements you need to meet, but otherwise if everything else is good (stable job and income, some savings, etc) then you should be able to get approved.
As far as geting the scores up, we can run a credit simulator to see if it is possible and tell you exactly what steps you'd need to take to achieve these results.
Feel free to give me a call or email me and we can discuss things further.
Tony Grech | Mortgage Loan Originator | NMLS 977416
PMAC Lending Services, Inc.
T (248) 945-9070 | F (248) 595-7130 | Direct Dial (248) 728-0078
email@example.com | http://www.pmac.com
Good morning, I recommend calling Aaron Kirschbaum with Envoy Mortgage (713) 403-6667
Aaron is a Wizard with mortgages.
"Your Local Realtor"
Elite Texas Properties
12320 Barker Cypress Road
Cypress TX 77429
Counselor, or Nursing and Allied Health Faculty, Veteran, Firefighter, EMS
Personnel, Peace Officer, Corrections Officer (TDCJ or TJJD), County Jailer, or
Public Security Officer? If so I know of a program that might be able to help. Please send me your email address: Valerie@helpubuyamerica.com
Also, feel free to check out my website http://valerie.helpubuyamerica.com/
I have used several different companies to pull my credit reports over the years and they all offer this.
Maybe you need a loan officer who 'gets it'
(214) 763-4629 cell/text/nights/weekends(Really!!)
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9yr Veteran navigating Mortgages for wonderful clients.
First, if you obtained your scores on your own, they almost certainly won't be the same as when a mortgage broker pulls them. If your lender provided your scores, ask if they know about RapidRescore.com. They will review your report and tell you what may be possible based on what is there. Often they will advise you reduce your balances on revolving accounts for example. You do as they suggest, provide proof and they will address two of the three agencies with the information and bring your middle score up. The predict how many points they expect to see when they review your report.
Your lender has to arrange this for you. There is a fee, but if you need it quickly, I'm not aware of any way to get the same results as fast as they can.