Financing in Trumbull>Question Details

Srpons, Renter in Trumbull, CT

What kind of credit score does one need to realisticly get a home loan?

Asked by Srpons, Trumbull, CT Tue Apr 27, 2010

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I just took a 3 hour continuing education training on this. Most loans require a 680 but a few will go lower. Minimum downpayment is 3.5% plus closing costs. There are a few with little or no down but not many anymore. CHFA DAP, VA, USDA are 3 that come to mind. I'd be happy to meet with you and our office mortgage broker to answer questions. Free consultation, can't beat that! Call me or email me to arrange it. 203 556 4665 or lflick@bhhsne.com
Lori Flick
Berkshire Hathaway Home Services
6523 Main St, Trumbull
Office 203 261 2260
0 votes Thank Flag Link Tue May 20, 2014
580 for FHA with 3.5% down
620 for Fannie Mae, Freddie Mac, VA, USDA
I am a licensed Lender in CT and located out of MA. Let me know if I can assist you.
0 votes Thank Flag Link Tue Apr 27, 2010
If you haven't visited with any qualified loan officer(s) yet, do visit, see exactly what your budget can handle and check your credit score--their scoring is different--if your credit does need improving your loan officer can suggest how to best improve it in the fastest time. Currently FHA loans do require a minimum score of 620 and 3.5% down, there may be some lenders that will work with a lesser score, however the interest rate is higher.
0 votes Thank Flag Link Tue Apr 27, 2010
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