Home Buying in Santa Ana>Question Details

Teresa Mitch…, Home Buyer in Santa Ana, CA

Can I get a mortgage loan with a credit scores of 626,626 and 638? I have not faulted on any bills for the past 6 and 1/2 years@

Asked by Teresa Mitchell, Santa Ana, CA Sat Dec 15, 2012

Help the community by answering this question:


Kawain Payne’s answer
try and get your score up 640, then apply for a loan.

With scores under 640, you will be faced with additional fees,and a higher interest rate.

The goal is to buy a home you can afford to STAY in!!!! CREATIVE financing is soemthing I would urge you to avoid.

Best Of Luck To YOU!

Kawain Payne, Realtor
0 votes Thank Flag Link Tue Mar 5, 2013
Hey Teresa,

I work for a Direct Lender and with your fico scores I can get you approved for a FHA Loan in seconds. We can get your loan closed in as little as 30 days, we don't charge any junk fees or charge any points. I work with good realtors that can help you find your dream home. Give me a call when it's convenient for you and we can talk further. Have a great evening.

Jovan Simon

In House Lender

5 Hutton Centre, Suite 1100
South Coast Metro, CA 92707
0 votes Thank Flag Link Sat Dec 15, 2012
Mr. Simon-
thanks for your response. I will be contacting you via phone ,as soon as possible and I can get the information that you have. I appreciate your response and your time.
Teresa Mitchell
Flag Sat Dec 15, 2012
You can get an FHA loan with under a 600 middle score with some lending institutions but not many. I would recommend finding a broker or service to help you locate a reputable lender that can approve your loan at a decent rate. I have client's who have got approved and received a good rate at The Lenders Network with FHA and VA home loans. If anyone can find you a loan they can!
2 votes Thank Flag Link Tue Jul 16, 2013

To correct my fellow colleague below, we can do 95% conventional financing with NO mortgage insurance. That means NO 1.75% upfront fee and NO 1.25% annual premium! Total fees for this conventional loan product are approximately $3,000. In addition, I've had no difficulty in neogtiating seller paid closing costs up to $5,000 for the majority of my buyer clients. I am an all inclusive real estate and mortgage service provider and would wlecome the opportunity to show you what I can do! Please click on the website link below for more information and to view the numerous testimonials of extremely satisfied clients!

Brian Delbenes

Good Neighbor Mortgage & Realty
1 Park Plaza, Suite 600
Irvine, CA 92614

Toll Free: 888.83.MYHOME
Toll Free: 888.83.MYLOAN
Direct: 714.552.0243
0 votes Thank Flag Link Sun Dec 16, 2012

As a seasoned mortgage broker and Realtor in the immediate/local area, it is my firm belief that the single most important thing you can do is put yourself in the best buying position as possible because in this highly competitve buyer's market vitually all properties have multiple offers. Therefore, in order for your offer to be considered and accepted it is imperative that you have the highest FICO score and best loan qualifications as possible.

Yes, there are loan programs for buyers with low FICO scores and minimal down payment, but I can assure you that you will be wasting many hours and encounter a lot of frustration as you will continue to come up short in the multiple offers game. It would be in your best interest to do the necessary homework now, get your FICO scores up, and have funds for some type of down payment so that we can do our best to qualify you on a conventional loan product. With this being such a huge and long term investement you want to make sure that your qualifications are represented in the best possible light.

If you are truly serious about buying a home then please do not fall for the quick sales pitch. I would encourage you to contact me directly so that I can walk you through, step by step, as to how we can qualify you for a loan with the absolute lowest rate and fees. It's no longer just about having a loan approval. Rather, it's about what type of loan approval do you have?

Please give me a call at your earliest convience so that I can dicsuss the details with you further. I look forward to hearing from you soon!

Brian Delbenes

Good Neighbor Mortgage & Realty
1 Park Plaza, Suite 600
Irvine, CA 92614

Toll Free: 888.83.MYHOME
Toll Free: 888.83.MYLOAN
Direct: 714.552.0243
Web Reference: http://www.mygnmr.com
0 votes Thank Flag Link Sun Dec 16, 2012
Teresa: My guess is that those credit scores are low due to the balances exceeding a 50% of your HIGH credit limit.
You may also have a collection or charge off.
Take a look and try to improve prior to applying for you loan and make an attempt to raise those scores.
You may be surprised to see just how much you can increase those scores.
Higher scores (even by 20 points) will make a HUGE difference in what your interest rate, fees and loan choices will be for you.
0 votes Thank Flag Link Sun Dec 16, 2012
Getting pre-qualified with a direct lender is the best way to know where you stand. I work closely with an honest and reputable lender. Call me to set up an appointment to look at property and get you pre-qualified. 714 366-6362. Norma Laine. REMAX, Happy Holidays.
0 votes Thank Flag Link Sun Dec 16, 2012
I use direct lenders for my buyer clients to provide them with consultation based on their fico score and overall credit report. Your income and expense ratios are also factors. The best thing is to meet with a lender. If you would like for me to provide you with a lender that you can talk with, feel free to contact me.
0 votes Thank Flag Link Sat Dec 15, 2012
It may prove to be difficult. Instead, I would suggest that you contact me so that I can show you how to increase your FICO scores within a matter of days via our Rapid Rescore process.

Brian A. Delbenes
888.83.MYHOME | Toll Free
888.83.MYLOAN | Toll Free
714.552.0243 | Direct
714.544.6177 | Fax
0 votes Thank Flag Link Sat Dec 15, 2012
Your best option will be shopping around for a mortgage broker that can review all your financing status, employment history, debts, credit report and can give you at least two financial options.
Choose one that can answer all your questions on your first meeting.

Best of Luck,

Maria Cipollone

Century 21 Tenace

0 votes Thank Flag Link Sat Dec 15, 2012
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