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minimum score for conforming loan

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craig Guest 0.10 Dollars($)	Posted: Sat Mar 18, 2006 11:52 am    Post subject: minimum score for conforming loan Is there a minimum score level to qualify for a conforming loan? _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
ken Guest 0.10 Dollars($)	Posted: Sat Mar 18, 2006 11:56 am    Post subject: Craig, A score of 550 can do with enough down payment.
jameshogg Joined: 20 Dec 2005 Posts: 1514 Location: nevada 210.98 Dollars($)	Posted: Sat Mar 18, 2006 12:02 pm    Post subject: Sufficient downpayment can enable you to get a conforming loan with a low score. Otherwise you can think of it with a score above 660. A score in that range can help you qualify easily but there are other variables to be met too.
Bill Joined: 21 Mar 2006 Posts: 83 Location: Illinois 3.65 Dollars($)	Posted: Tue Mar 21, 2006 5:39 pm    Post subject: minimum conforming score Craig, a 620 middle of 3 scores (TransUnion, Equifax & Experian) is a basic 'minimum' for conforming. However, most conforming loans are underwriten via Automated Underwriting through Fannie Mae and/or Freddie Mac where other factors compute into the overall finding. It is quite possible that a score less than 620 will go conforming if the Loan-To-Value (LTV) is low or there are substantial reserves, etc., etc. Contact a recommended lender in your area to explore all your options toward advantageous financing. Best of luck! _________________ Bill Clanton is a Mortgage Specialist and Manager of State Street Mortgage of Illinois. StateStreetMortgage.Net

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