Conventional Loan Requirements - Min Credit Score?

Author Message
nanskibanski

Guest







Post Posted: Thu Sep 30, 2010 1:20 pm    Post subject: Conventional Loan Requirements - Min Credit Score?
Like
Dislike

What is the minimum credit score required to qualify for a conventional loan? Does the min credit score change depending upon the amount of money used for down payment?

Thank you

_________________
Need help choosing the right loan? Get free consultation from community lenders/consultant
Icon Mini Profile eric1
eric1
Community Expert
Community Expert

best lender badge

Joined: 04 Jan 2009

Posts: 1516

227.77 Dollars($)
Post Posted: Thu Sep 30, 2010 7:55 pm    Post subject:
Like
Dislike

It really depends upon the lender. Sometimes the score requirements change depending upon the down payment but also there are some lenders who do not have minimum score requirements.
_________________
Eric JLow Down Payment, No PMI !
FHA RATE QUOTE
Mortgage Rate Quote
Kenney

Guest







Post Posted: Sat Feb 05, 2011 2:40 pm    Post subject: Conventional loan
Like
Dislike

I have a median credit score of 680. I have the money to do both 10% and 20% conventional loan if needed. I was just declined on a 5% connventional loan because of the 680 credit score. I was told I needed a 720. With 10% down I am having difficulty getting a lender. Do all conventional loans require a 720 median credit score? I need to close my deal.
Icon Mini Profile adonis
adonis




Joined: 22 Oct 2005

Posts: 12179
Location: ALASKA
1313.94 Dollars($)
Post Posted: Mon Feb 07, 2011 12:14 am    Post subject:
Like
Dislike

Welcome Kenney,

Your query has been replied to in the given page:
http://www.mortgagefit.com/inprocess/about49239.html#201374

Take a look at it. I hope it will help you.

_________________
Procrastination is the enemy of your financial success
Ask question
Your Name
Subject
Image Verification


Can't read the image? click here to refresh
Message Body
All times are GMT - 7 Hours
Page 1 of 1

 
Delete this topic Move this topic Lock this topic Split this topic 

Page loaded in 0.317 seconds.