Financing in Dallas County>Question Details

Taurean Lewis, Home Buyer in Dallas County, TX

What kind of load can i get with an 680 credit average?

Asked by Taurean Lewis, Dallas County, TX Wed May 23, 2012

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5
T.E. Sumner’s answer
680 may sound good enough for many loans, but the question is what is your middle score?
That's not the highest one, nor the lowest one, but the one in the middle.
Most lenders use the middle score to determine several things about your loan, including whether you qualify for the program or not.

Depending on how much you have saved up for closing costs and down payment, you might qualify for a nice, low interest conventional loan (assuming there are no gotchas in your credit report).
A gotcha would be something like 2 years ago you filed bankruptcy, but now your middle score is 668. Sorry, Charlie, no loan for you, probably.

You might have only $3,000 saved up and want to purchase a $140k house. Sorry, not enough down payment.

So, average score or middle score, that's not the whole story.
0 votes Thank Flag Link Mon May 28, 2012
There are lots of loans out there right now that you would definitely qualify for. There are many other factors besides just your credit score they will take into consideration. If you would like to be connected with a great lender please let me know. I would love to get you connected with a great interest rate as well. Please let me know if there is anything I can do for you! I am happy to help.

Lisa Montes-"Your Home Retriever"
http://www.yourhomeretriever.com
817-201-7388
yourhomeretriever@gmail.com
0 votes Thank Flag Link Thu May 24, 2012
680 is a high enough tier to get better rates and qualify you for FHA, Conventional, USDA($0 Down), VA if qualified. Call, Email or Text me and I can get you in touch and pre qualified making you look more desirable to sellers giving us a strong edge when it comes to negotiation. I look forward to assisting you in any way I can.

Best Regards,

John Greer
United Real Estate
214-460-8381 Cell/Text
jgreer@unitedrealestatedallas.com
http://www.johngreerhomes.com
0 votes Thank Flag Link Wed May 23, 2012
at 680 you have many options out there.

You should contact one fo the local credit union, they are usually more eager to work with home buyer with lower interest rate.

Dixon
Realtor
JP and associates
dixondfw@gmail.com
214-519-9493
http://www.findyourtexashome.com
0 votes Thank Flag Link Wed May 23, 2012
What is the mid score?
Throw out the highest and lowest scores and give me the one in the middle.

What price range are you looking?
How much do you want to put down for a down payment?

You have options, but the answers to these questions will help us answer with more accuracy.



Tom Burris
Mortgage Banker
DallasLoanGuy.com
(214) 763-4629 cell/text/nights/weekends(Really!!)
tomburris@dallasloanguy.com
Lending all across the entire Great State of Texas!!
NMLS# 335055
Search Dallas area MLS for FREE. No registration => http://www.ntreisinnovia.net/cgi-ntr/BR_login?0501134
0 votes Thank Flag Link Wed May 23, 2012
676
Im looking at 150,00.00

Im looking to use a va loan
Flag Wed May 23, 2012
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