My credit score is 623, where can I apply for a home loan..?

Asked by Jeannette Medina, Fri Feb 1, 2013

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Wed Feb 6, 2013
Good morning Jeannette,

While that score is "just about" acceptable to some Lenders for mortgage financing, the norm today tends to be in the 640-660 range for credit scores. With that score, it seems to me based on my professional experience, that you may have some issues you might consider resolving before taking on the responsibility of owning a home and paying a mortgage.

While there are Lenders who will tell you they can qualify you for a mortgage, I'd like to offer you some advice based on my 23 years experience as a Mortgage Banker. The homeownership experience is a serious responsibility; I recommend putting your credit affairs in better shape before you take on such a responsibility.

First, settle any outstanding debt. If you owe money on collection accounts, charge-offs and/or judgments, make payment arrangements and get these accounts paid promptly.

Next, begin rebuilding your credit. If you have current accounts with good payment histories, or even some previous late-payment-blemishes, make sure you continue to pay those accounts on time. If you do not have any existing credit accounts then you'll need to establish several in order to create a viable credit history.

I have found that CONSUMER ACTION is an excellent resource for objective advice on all things credit related. You'll find free and sincere advice on everything from settling collection accounts to rebuilding credit to building credit from scratch on their website.

Beware of anyone offering to "repair" your credit! The Federal Trade Commission issued a stern warning last year that such offers are scams. Find more from the FTC HERE.…

The best way to buy a home is to have a decent credit history combined with sufficient Income and Assets for a home purchase.

The best way to have a decent credit history is to settle negative outstanding obligations and pay all your bills on time for at least two years.

Trevor Curran
NMLS #40140
Mobile: 516-582-9181
Office: 516-829-2900
Fax: 516-829-2944
PowerHouse Solutions, Inc.
185 Great Neck Rd, Suite 240
Great Neck NY 11021
Licensed Mortgage Banker – NYS Dept. of Financial Services

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1 vote
great answer
Flag Thu Oct 23, 2014
lendersnetwo…, Agent, Plano, TX
Tue Oct 22, 2013
Yes! We help people who have low credit scores and match you with a lender that has a loan product for you. 580 credit score needed for FHA and 620 for conventional with 3% down
4 votes
Hi do you do loans in NC?
Flag Tue Mar 21, 2017
Jeanette Whi…, Agent, Lafayette, LA
Fri Feb 1, 2013
I'm a realtor who works with lenders. I would recommend Louise Logan at Coast Capital Mortgage on St. John St. in Lafayette. Her direct number is 337-769-1673. Her cell is 337-230-7409, Her email is

She is very knowlegeable and will lead you in the right direction. She is aware of many programs available. Once you get pre-approved, contact me and I'll be happy to help you find something without any cost to you.

Jeanette White, Realtor
Keller Williams Realty Acadiana
1 vote
Ghammandr, Home Buyer, Youngsville, LA
Fri Mar 11, 2016
my cibil credit score is 628 , where i can apply for a credit card
0 votes
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