my credit score is 635 and I would like a 150K loan. We own a house already. Is my score high enough?

Asked by Annie, Charlotte, NC Fri Jul 4, 2008

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Jeffrey Schn…, Agent, Austin, TX
Sat Jul 5, 2008

Yes. While your credit score is below average, it is not so far off the average that you cannot get a loan. You will likely have more expensive terms than a credit score closer to the average, but it is still doable. Are you saying that you own your home free and clear and you want to get a mortgage on the home? Or are you trying to get a second mortgage based on the equity in your home?

Need a few more specifics to help with the answer. If this involves you selling your home and getting another one, then I'd recommend you get representation through a trusted buyer's agent, and they can help you find lenders that you can work with to meet your objectives.

If you have additional info, provide it as an answer and I'll check back in to see what's up.

Good luck,

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