Both my wife and I have a 620 Credit score. We owe 99k and would like to borrow 140. home value is 175k possible?

Absolutely.. you would be at 80% Loan to value, so no monthly mortgage insurance would be required, but because of your low scores, you will have a little higher interest rate.. but so long as you meet all other eligibility requirements, you should be ok.. The best advice I can give you 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

Hi, your loan-to-value is OK, but your credit score is very weak. Most lenders do not lend below a 620 middle credit score. But I wouldn't worry... Generally most people can get there score up a little bit pretty quickly. Also understand that credit score and loan to value are not the only criteria for getting a loan. I suggest you contact a local mortgage expert, provide them a full application, and they can zero in on your personal situation. I am right here in St Paul. Visit www.StPaul-Mortgage.com to get started