Credit General Question.

Much more info needed to answer your question.. Understand that it takes MUCH MORE than a credit score to qualify.. I've had borrowers with 750 credit scores, yet they could not get approved for a loan. First, every loan program is different.. Conventional will go down to 620, but if you are putting less than 20% down, you will need a 660 or higher.. FHA will go down to 500, but try finding a lender willing to do it is the tough part. Understand that FHA does not lend money.. they only insure loans against default. The lenders who do the lending must be sure the borrower meets the guidelines for that particular program, but in addition.. the lender may also add additional guidelines , guidelines above what FHA calls for.. These are called "Overlay's".. and this is what makes lending rules different, one lender to the other.. For the very, very few lenders that lend that low, the overlay's are brutal.. and very, very few that apply actually get approved. Also, if the score is 580 or lower, you have to have 10% down.. Also, we go by the Middle credit score of all borrowers.. meaning we run all 3 major credit bureau's on each of the borrowers, and we use the lowest mid score for qualifying.. not the highest score.. Example: You have 750,755,740 credit scores, your spouse has 744,749, 759, and you are so signing for your child who has 622,614,633... then for qualifying purposes, the loan is priced as 622 mid score. Also, there are income requirements, debt to income requirements.. and derogatory credit seasoning requirements.. All these guidelines must be adhered to in order to qualify.. Realistically, you need to pick up the phone and call a local mortgage banker or broker and apply with them.. once they see your complete loan profile, they can advise you as to what is available for you and if you don't qualify now, they can tell you how to get qualified in the future.. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / LendUS, NMLS 1938/ AZMB0121893

there is no min score

The best thing to do with speak with length with a qualified mortgage pro. I encourage you to do this ASAP. An average pro is not going to be very helpful however a great one will be able to help you navigate the maze that of credit, product options,etc. Go to work my friend!