credit 693 worried i can't do conventional mortgage
been told 693 is acceptable but worried because credit is a far cry from what it was before it plummeted after i was involved in a lawsuit almost 2 year ago and missed 2 car payments. i DO have 20% to put down, and have been in my same job for 8 years. am i salvageable by carlisle7679967 from Delran, New Jersey. Sep 24th 2014
Paul Sheridan (paul@njlendingsource.com)
#20 ranked lender in New Jersey - 17 contributions
Your score IS high enough for Conventional. If you want be to prequal your for free and run some payment scenarios for you just give me a call direct at 732-359-6002Paul J. SheridanSr. Home Loan ConsultantThe Lending Source Ltd.877-808-3897(Toll-Free)732-485-7272(cell)973-215-2343(Fax)NMLS ID 270490The Lending Source Ltd.www.NJLENDINGSOURCE.com156 Woodport Rd. Suite 1DSparta, NJ 07871NJ Licensed LenderNJ Dept of Banking & InsuranceNMLS LENDER ID 269538
Sharon Duffy (sduffy)
#70 ranked lender in Pennsylvania - 595 contributions
Hi there!..No worries your score is very doable conventional. Please give me a call and we can go over the details..I am local in Sewell, NJ...Sharon732 606 6264
Dan Paladin (dpaladin)
#356 ranked lender in California - 792 contributions
Yes...you are. In regards to a conventional loan you will be subject what we call loan level price adjustments which means you will have a slightly higher rate than say someone with a 760 fico score. So you "loanable" based on the info provided here.Regards and good luck!!
William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions
There is a slight pricing adjustment for borrowers with a 693 vs a 740.. Your score is defiantly acceptable. But understand that by waiting for your score to improve, the rates could go up marginally compared to the slightly higher price you would pay today. 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
Mona Hulteen (mhulteen)
#22 ranked lender in New Jersey - 49 contributions
Yes, you are salvageable. I could get you a mortgage with the scenario that you put forth.
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