Raegan, Other/Just Looking in 70126

I have a credit score of 623. Can I get approval for a home loan at this time?

Asked by Raegan, 70126 Fri Nov 19, 2010

I have about 20k or 10% down. First home purchase. I make 10 k/month and currently have 2 k/month bills. I can easily afford this home. I just need a willing lender. What do I do?

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Jessica Bate…, Agent, Beverly Hills, CA
Fri Aug 23, 2013
I work with a lot of people who have less than perfect credit. I tell all my clients that need a pre approval to visit The Lenders Network, I have seen loan approvals from them even with scores under a 600. So if anyone can get you a loan they can, their service is free.
0 votes
Flint Zerang…, Agent, Lafayette, LA
Mon Nov 22, 2010
Hi Raegan, Good question, please give me a call or shoot me an email. I have several options for you in the Lafayette Area. Your credit score can be affected by many things. I can help you rebuilding the score as well as getting into a home soon.

Flint Zerangue
Acadiana Metro Realty
Lafayette, LA
Web Reference:  http://www.acadianametro.com
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Andrew Luett, Mortgage Broker Or Lender, Chicago, IL
Mon Nov 22, 2010
Hi Raegan,

The next step would be to get pre-qualified by a lender who can lend down to a 620 credit score. We (Wintrust Mortgage) are able to do an FHA mortgage with a 620 middle fico.

Please feel free to email or call me at 773.456.9662 with additional questions or to start the approval process go here: http://www.luettmortgagegroup.com/start/.


0 votes
Michael Andr…, Other Pro, Baton Rouge, LA
Sat Nov 20, 2010

We are in Baton Rouge, give me a call, we may be able to help


Michael Andries
Loan Officer
Network Funding
0 votes
Daniel, , Baton Rouge, LA
Sat Nov 20, 2010
As Im sure u are aware, you need a 640 credit score with most banks if the loan is to be sold in the secondary markey.

Check with your local banks to see if anyone is willing to portifilo your loan for a year os so
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ian cockburn, Agent, New Orleans, LA
Sat Nov 20, 2010
Dear Raegan,
It depends on the loan..FHA, FHA 203K renovation loan and so on.

Email or call me and I can find you a lender..and a home to match. Decisions are made not strictly on credit score alone.
Web Reference:  http://iansellsnola.com
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Chad Vidrine, , Lafayette, LA
Fri Nov 19, 2010
Hi Raegan,

That should be no problem. There are many programs and lenders in our area that would be happy to work with you. Let me know if you need any assistance.

Web Reference:  http://www.chadvidrine.com
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Gerard Dunn, Agent, Chevy Chase, MD
Fri Nov 19, 2010
You qualify for FHA - at least for a little while.

FHA is about to increase their requirement to 660 for credit score required.

Find a lender to give you the OK and go find a home! You still have time!

Good Luck!

Gerry Dunn
Associate Broker
Serving Maryland, D.C. and Northern Virginia
0 votes
Dan Tabit, Agent, Issaquah, WA
Fri Nov 19, 2010
Step one is to meet with a lender. 620 or better will qualify for many programs, depending on other factors. A lender can discuss the rest of the terms, obtain your credit and discuss possibilities to even improve your score which can lead to better rates and chance for final approval.
As a licensed lender in Wa, I would gladly work with someone with your scenario. Best of luck.
0 votes
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