Pre-approval for home loan with credit scores of 560 and 730?

Asked by Sumita Mukherjee, San Francisco, CA Wed Feb 13, 2013

The 560 used to be 620 just a few months back but dropped due to posting some credit disputes and one item in collections that was paid. Can we still get a home loan?

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Sumita Mukhe…, Renter, San Francisco, CA
Wed Feb 13, 2013
To clarify, one person has a score of 560 and the other has score of mid 700's and both incomes will be used. Can this be done? We have tried to dispute some things in the lower score, but the credit score dropped alot after doing this.

Can we still get a loan approval with these scores?
0 votes
Jacob Varghe…, , San Jose, CA
Wed Feb 13, 2013
Hi Sumita,

Lenders go by the Mid-Fico Score.

The score that you see at your end may not be the real score.

A tri-merged report will give a better pricture.

Keep in mind there a lot of other factors also.

NMLS 327086
0 votes
Thierry Abel, Mortgage Broker Or Lender, Corte Madera, CA
Wed Feb 13, 2013
There should be some areas of your credit report that can be fixed or improved. You might want to talk to your mortgage broker/lender and they should be able to lead you through it.
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