In My Neighborhood in 46239>Question Details

Lynn Sepersa…, Home Buyer in Indianapolis, IN

i have a nice downpayment and good job ,but credit is not the best in the 600's is it possible to still get a mortage?

Asked by Lynn Sepersaude, Indianapolis, IN Sat Feb 4, 2012

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Jackie Lovell’s answer
Wow! Everyone is answering your question! Yes, 640 is the score most lenders like to see. I live in 46239 zip code also so I am very familiar with the area and know an excellent lender. Jack Overy, Caliber Funding (317) 895-5770 ext 224. It doesn't cost a thing to call and ask him questions or have him qualify you to see what scenario best fits your specific needs.
Like if you don't have down payment you can use IHCDA, First HOME PLUS, that gives you 6% of the purchase price for down payment but not more than $7,500. Great program with 3.5% interest Rate! AWESOME! Call Jack to get financed and call JACKIE (317) 332-7547 to shop for your home. Thanks, Jackie

p.s. below link is for IHCDA down payment programs.
Web Reference:
1 vote Thank Flag Link Mon Feb 6, 2012
My Company, Meridian Mortgage Solutions is a full service lender that goes down to a 600 credit score and can also help somebody fix or repair any errors on your credit that may also increase your credit scores. Please feel free to contact me at 317-968-9500


Ryan Wohlert
0 votes Thank Flag Link Tue Mar 11, 2014
Yes I think chances are very good on getting you financed! With a few more details I can help you connect with a lender that can get you financing and we can discuss some details on what kind of a home you would like to find!

Call me at 317-590-7482 or

Randy Hazel, Broker Realtor, CRS
0 votes Thank Flag Link Sun Feb 5, 2012
Yes! If you would like to contact me I can explain how!

Jeremy (317)625-1611
0 votes Thank Flag Link Sun Feb 5, 2012
Your best bet is to discuss with a reputable lender just what your options are and THEN contact a Realtor for assistance in finding you a home within your budget. However, every Realtor has mortgage brokers they work with and can should be able to give you at least 3 different ones you can contact.
If you email me I can also give you the details on a FREE First Time Homebuyer Seminar coming up that will answer lots of questions and guide you through the process and all the misinformation in the news today.
check out my website at
0 votes Thank Flag Link Sun Feb 5, 2012

We can help you get a Great Home First... Then work on the credit to raise your score.
0 votes Thank Flag Link Sun Feb 5, 2012
Hi Lynn,

There are some great loans out there right now that can help with the purchase of a new home. I just talked with a lender that has a program that offers 0% down, no mortgage insurance and lower credit scores. Email me and I can give you her name and get you started. Thanks!
0 votes Thank Flag Link Sun Feb 5, 2012

Almost all lenders are now requiring a 640 credit score. If you're above that, you should be golden. If you're below that, very few lenders can help you. I've got one I'll recommend however that can usually write you a loan down to a 580 credit score.

Tony Reffeitt, CRS
Broker / Owner
Integrity Real Estate
0 votes Thank Flag Link Sun Feb 5, 2012
Lynn a good lender will definitely assist you in not only getting qualified to obtain a mortgage but there are programs available you should at least be aware of... from down payment assistance and no mortgage insurance (PMI) that can save you a lot of money over the years. I work with 2-3 excellent ones that can determine what you may qualify for in order to meet your needs.
0 votes Thank Flag Link Sat Feb 4, 2012
Hi Lynn.

A credit score in the 600s should not prevent you from obtaining a mortgage. Where in the 600s may determine the different types of mortgages for which you would qualify. And, of course, there are other factors as well. The first thing you should do is talk with a mortgage broker - they can tell you what you qualify for and may be able to give you some tips to improve your score. If you need help finding a mortgage broker or in your home search, please let me know - I would love to help! Good luck!!

Julie Simnick
Century 21 Scheetz
0 votes Thank Flag Link Sat Feb 4, 2012
Great news there should be no reason to not be able to secure a loan. Do you have a mortgage broker that you would like to work with. If not ,I can refer some if you like. A reputable broker is important in helping the home buying process a smooth one. Call me if you would like some referrals.
0 votes Thank Flag Link Sat Feb 4, 2012
Sure it is. Nothing from what you described should hinder you from getting a loan.

-The Coolest Real Estate Broker in Indy!
Web Reference:
0 votes Thank Flag Link Sat Feb 4, 2012
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