Does anyone know if I can get a loan with a 615 credit score?

Asked by, Tue Jan 22, 2013

I am look for a loan for a home my credit score is 615. Iam looking to put 3 to 4% down. Is this possible.

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Marc D'Angelo - Lender’s answer
Marc D'Angelo…, , Roswell, GA
Wed Jan 23, 2013
You maybe able to improve your score through a Rapid Rescore. This is where your lender can view your credit report and then run a simulation program that will show you what you need to improve. I do this regularly with my clients and we have seen scores increase as much as 100 points in as little as 5 days.
1 vote
Amanda Blant…, Agent, Buford, GA
Wed Jan 23, 2013
That is a difficult question to answer without more information. If you are pulling your credit on your own and from anywhere other than, then the 615 is higher than your FICO score. Lenders use the FICO Score.

There are also three credit bureaus, and therefore, you have three credit scores. The lender will use your mid score. In other words, they toss out the highest and lowest.

Now, if 615 is your mid score, and it is based on the FICO scoring model, yes you can get a mortgage. This will fall below many lenders minimum score, however, I know of at least one lender I could refer that would be able to do this mortgage.

There are other factors on your credit report other than just score. Such as collections, disputes, etc. And the will also want to see income sufficient enough to pay the mortgage.

I am a Realtor with a broad range of experience. I was an appraiser for 15 years (Told mortgage companies and banks what the homes were worth) and I originated loans for a few years. I have a fundamental understanding of how all that goes together.

I can help walk you through obtaining a mortgage and finding the right home at the right price.

Feel free to contact me at 678-992-3817.


David C. Blanton
1 vote
Rich, Other Pro, Las Vegas, NV
Tue Mar 3, 2015
If you need help raising your credit scores to qualify for Loans, Credit Cards or Mortgages.
We can raise credit scores dramatically in only 3-4 weeks so that you can qualify

For Over 5yrs We've been working with Mortgage Brokers, Real Estate Agents, Car Dealers and others throughout the USA..

Hope this helps..

Rich Smith
(702) 758-3799
Web Reference:
0 votes
Heidi Harper, Agent, Roswell, GA
Tue Mar 3, 2015
Excellent question for my favorite lender, Cathy Thomason 404-246-8514. Let me know if I can help you and tell her I sent you! Have a blessed day! Heidi Harper 678-994-7000
0 votes
Ernie Behrle, Agent, Raleigh, NC
Tue Aug 5, 2014
You should have no problem finding a loan with a 615. There are lenders able to get loans in the below 600 range...higher interest rates of course, but they can always be refinanced when your credit score goes up. Just Google brokerage lenders in your area, not the banks.

Good Luck
0 votes
Arlie Vanden…, Agent, Littleton, NH
Wed Jan 23, 2013
The first question would be where did you get your credit score from? Credit score can vary depending on which credit bureaus were used in determining that score. Was the 615 an average of your Experian, Equifax and TransUnion scores? If the answer is no than that 615 might not be your true score. A 615 score is on the low side, but you still might be able to find a product that could work for you. You really need to talk to a lender and have them pull you credit and review it with you. They can give you suggestion on how to improve your score if it is to low and set you on a path to successfully securing a loan. Remember credit score can always be improved it just take some time and hard work. Good Luck!
0 votes
K.C. Jones, Mortgage Broker Or Lender, Irving, TX
Wed Jan 23, 2013
Yes, it is possible. My specialty is 580+ credit score FHA home loans with only 3.5% down.
I would love to help you. :)

K.C. Jones
RH Lending
0 votes
Cheryl Scutt, Agent, Cumming, GA
Wed Jan 23, 2013
This is a vague question however it is great that you’re asking lender questions before you start looking for your dream home. In today’s local housing market, inventory is low and all the great deals are selling quickly. So it is important to be prepared and know your financial abilities while house searching.

Different lenders will have different loan products and different lenders with have varying loan requirements. A 615 score alone doesn’t rule you out of the game. Know that you can shop around for a lending institution and mortgage type that has the best rate and terms for you. Having a pre-qualification letter from a lender may give your “offer” preference over someone else’s “offer” when the seller is deciding who to go with. I will be happy to recommend lenders to you and be your expert in finding the perfect new home for you!

Cheryl Scutt, REALTOR, SFR
Century 21 Results Realty Service
0 votes
Dan Hannon, Agent, Lawrenceville, GA
Wed Jan 23, 2013
Hello Ximer2004,

Christine's reply is true, as are the responses of the others. There are many mitigating factors involved when you are finding your own credit score versus working with a professional. I, too, have some hard working, knowledegable and competent lenders in my contact list; each of which I have worked with on more than one occasion with successful results. Contact a REALTOR and allow them to guide you through the process and you will find that you will be a home owner in no time! I can be reached at 404-645-9863,

Kind regards,
0 votes
Rodney Mason, Mortgage Broker Or Lender, Atlanta, GA
Wed Jan 23, 2013
For an FHA mortgage, most lenders require a 640+ credit score for the last 2-3 years now.

Prospect Mortgage is one of the few direct lenders to offer an FHA 580-639 FICO loan program. Credit profile is a major factor in a mortgage approval. Generally, there should be no late payments, new collections accounts/charge-offs/liens/judgments in the last 12 months. It is required that all open collection accounts must be paid in full if their cumulative balances exceed $1,000.

The 3.5% minimum down payment can be from the borrowers own funds or it can be gifted from a family member. Two months of reserves for the PITI (Principal + Interest + Taxes + Insurance) payment + HOA Dues will be required. This must be from the borrower’s own funds and not a gift.

Working with a knowledgeable and seasoned loan officer is critical in today's market. Getting Pre-Qualified is the only way for you to find out your options. To get Pre-Qualified for your purchase, you can submit your request online at

Rodney Mason, NMLS #151088
Sr Loan Officer
Prospect Mortgage
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
Apply Online at
Licensed in Alabama & Georgia with over a decade of lending experience.

Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePath® | HomePath® Renovation | HomeStyle® Renovation | VA | USDA | GA Dream | Jumbo Financing.
0 votes
Jeffry E. Sc…, Agent, Suwanee, GA
Wed Jan 23, 2013
There are serveral questions that need to be answered. #1. Did you pull your score or did a lender? Even though we are told that this is our score. I have found that most lenders pull a tri-merge score. This is from all 3 credit bureaus and is usually less than what you have been given. #2 Lenders then take the middle score as the 3 are never exactly the same. #3 Right now to the best of my knowledge 640 -660 are the lowest scores that loans are being made at. #4 However you may be able to raise your score rather quickly (30-90 days). I have a couple of local lenders that can help you with this, please give me a call and I will give you their information. #5 PLEASE BE CAREFUL AND DO NOT HOOKUP with some of these so called credid repair people. A few know what they are doing most are just after your money and will do nothing for you.

I hope this was helpful.

Jeffry E. Scott ERA Allpoints
0 votes
Dan Tabit, Agent, Issaquah, WA
Tue Jan 22, 2013
FHA would be your most likely bet. A lot depends on if 615 is your true score and your middle score. Lenders pull 3 credit reports and the scores often are different from what the public obtains. A lender will consider the middle score for qualifying purposes, but they still look at everything else.
You should meet with a local lender and discuss what you hope to do, what you have to work with and see what they recommend. FHA only requires 3.5% down payment, but you should have some reserves to fall back on. Best of luck.
0 votes
Christine Bo…, Agent, Duluth, GA
Tue Jan 22, 2013
Hi There!

With a credit score of 615 and 3.5% down it is likely that you would qualify for a mortgage. There are other factors involved such as your income, of course. I have a couple of wonderful lenders that I would love to have you speak with to find out exactly what you qualify for,

Please call me at 678-665-9448 or email me at and I will be happy to share more information with you and help you pair up with the best lender for your needs!
0 votes
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