640 middle credit score, need mortgage in ND.

If a credit score was the only qualifying requirement, then most lenders have programs for borrowers with a mid 640, however in reality, it takes much more than a credit score to get financing.. My suggestion is to contact a LOCAL mortgage broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347

That's one hurdle, 640 should be workable as long as all your other quaifications fit. General in that score range FHA or USDA are the best options but sometimes conventional makes more sense depending on the specifics of your application. An experienced and knowledgable mortgage officer will look at both and make a recommendation. (Some are not as familiar with conventional options targetted for first time buyers) Good luck!