is there any way to get a loan with credit scores of 544 624 626?

Asked by Ricky, Conroe, TX Sun Jan 23, 2011

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Jessica Bate…, Agent, Beverly Hills, CA
Mon Oct 14, 2013
With a 624 mid score you can get approved for FHA and possibly Conventional.. Check out The Lenders Network they can refer you to a lender who can help.
2 votes
Corey Sprague…, Agent, Milton, MA
Sun Jan 23, 2011
Unlikely that a person will get financing at 544, however, 624-626 has a chance. Be prepared to pay a much higher interest rate, principle mortgage insurance (PMI) and possible points. Regardless, it is worth talking with a qualified lender to see what options are available.

Visit the bank you do business with regularly and speak to their mortgage department. Also, ask some friend and family members who they've used in the past. Choose three qualified people to talk with and shop around. Best of luck.
1 vote
, ,
Thu Jan 27, 2011
Ricky, sometimes it amazes me when agents post information that is absolutely wrong, and some people might actually listen to it.
Lynn has brought up a good point. Did you get those scores by yourself online? If so, they might be wrong, so you really need a loan officer to run them for you. Be careful, don't allow more than 1 to do it. Lenders absolutely DO NOT use your lowest score. They also don't average them, they use the one that is numerically in the middle. in your case, that is 624. That does not mean that the 544 will not give you trouble. When you have one very low score, it usually means that one bureau is reporting something that the others are not, such as a tax lien or collection. Any loan officer worth using will be able to figure this out for you very easily. If it is something that you can take care of, you should do that and get a rapid rescore done to increase that score, and remove the item. If it is something like a repo that was only reported to 1 bureau, it could really give you a problem.
Good luck, and if there is nothing unusual, you can get a loan with a 624 middle score as long as your debt to income isn't too high, you have some reserves, and you put down more than the minimum 3.5%. You may not even need all 3, but the loan scenario has to be approved by a desktop underwriting system most likely, and often that doesn't happen if you have a very high DTI, are putting only the minimum down, and have no reserves at all.
0 votes
Jay Abeya, Mortgage Broker Or Lender, Houston, TX
Thu Jan 27, 2011
Good Morning Ricky,

Yes you can get a loan with those scores. There will be a few loan types that you can choose from. Please feel free to cotnact me so we can discuss what options best fits your life style. Have a great day!
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0 votes
, ,
Mon Jan 24, 2011
Hi Ricky,

There are still some lenders that will work with scores down to a 620 but that's not the only thing lenders are looking at with regards to your credit.

Your credit history over the last 12 to 24 months will also be checked for late payments, collections and charge offs so you'll want to have a banker or broker review your credit to be safe.
0 votes
Hannah Flieg…, Agent, Larkspur, CA
Mon Jan 24, 2011

With your poor credit rating you are going to get lower quality mortgage products. Of course there are people who will help you get access to a home loan but you will pay dearly for it because your credit rating is so bad.

Why not begin with the basics, I know how boring? Work on improving your credit rating first, then shop for mortgage products and then select the property that suits your needs and goals.

Good luck!

Hannah Fliegel, FICO Pro
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0 votes
Henry J Dani…, , Conroe, TX
Sun Jan 23, 2011
Hi Ricky,
There are many loan programs that you can still get loans with your scores. In fact you can even get Tax credits to help you with closing costs if you are a First time Home buyer. One of the keys is to work with an experienced Loan Professional that is licensed and Certified.

There are numerous Loan Professionals that are still operating illegally after January 1st so make sure they are indeed licensed.

Since you are in Conroe there are two programs that will work for you. Of course we would need to discuss what is in your credit report and I would be happy to meet with you as your local Conroe Mortgage Banker and discuss the contents of your report with out needing to run a credit report and if the issues are not a problem I would be delighted to qualify you.

Also Mentioned here depending on what is in your report it may be able to get that score up even further in a fairly short period of time
Henry Daniels - Sr. Mortgage Banker & CMPSI Certified Mortgage Coach
Conroe, TX
Text "CoachHenry" to 50500 to get my eCard
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Direct: (832) 519-0695 Fax: (832) 217-3033

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0 votes
Don Groff, Agent, Austin, TX
Sun Jan 23, 2011
You most likely can. Get in touch with a reputable mortgage broker who will take the necessary time to help you. Most lenders require a 640 score but there are still those that go as low as 600. You are not too far off so your goal should be to see what is causing your scores to be where they are and take corrective action. Depending on the cause you may be able to get your middle score up to a 640 or higher in as little as 30 to 60 days.

Don Groff
REALTOR | Mortgage Broker
Keller Williams Realty | 360 Lending Group
0 votes
Sera Smith, , Plano, TX
Sun Jan 23, 2011
Yes you can get a loan with those scores. Working with several lenders that will go down to 600 on an FHA loan. Not knowing what is on the credit report itself, the scores are acceptable.I would need to see the credit report to see if there is any problems. I am available to help you. You can reach me at or call 214-405-7264.
Sera M. Smith
Texas Loan Officer
NMLS 354776
Bluesky Lending
214-405-7264 cell
800-887-5824 fax
0 votes
Marga Haas, Agent, Willis, TX
Sun Jan 23, 2011
I agree with the rest..A good mortgage broker is the place to start...know a christian one from my church....let me know. I'm on facebook and linkedin.....
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0 votes
Clark Riel, Agent, Reno, NV
Sun Jan 23, 2011
Any lender will use your lowest score. Check for errors made by the credit reporting company who gave you the lowest score. A good mortgage person will help you repair you credit at no charge.
0 votes
Cheri Schwar…, Agent, Conroe, TX
Sun Jan 23, 2011
Ricky, I work with a lender here in the North Houston area, who is very knowledgeable regarding numerous programs offered and will give advise on correcting your credit to improve your score. You would be amazed how, sometimes, it can be done quickly and simply. Contact me if you would like to speak with him
0 votes
Dallas Texas, Agent, Dallas, TN
Sun Jan 23, 2011
Professional to render an opinion is a mortgage broker. Where did the scores come from ? Online? Or from a mortgage broker?

Lenders take the midscore HOWEVER based on debt/income ratio, employment , down payment and much more

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
0 votes
, ,
Sun Jan 23, 2011
Most lenders need a 640 mid-score.
You might find someone with a 620 solution.
Do you have any credit card debt that you could pay down? That should get you a few points. It will get you a LOT of points if you maintain high balances in relation to the limit.

Tom Burris
Mortgage Banker
214-763-4629 cell/text/nights/weekends
0 votes
Marla McWill…, Agent, Coeur d Alene, ID
Sun Jan 23, 2011
The 544 is the questionable score. 624 & 626, workable.

Call a local bank you are comfortable banking with, get with their mortgage department and start 'shopping' rates and fees. can help as well.

It's important to remember to not take the first offer from a lender, but to 'shop around'!

Good Luck
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