I am wondering how I go about getting a mortgage if I have a bad Credit score of 680 with a large downpayment?

HelloYou will qualify with a 680 score and the downpayment that you will have available. You may even be eligible for a VA loan if you have never been remarried and your Veteran died on duty or was permanently disabled while on duty. Please feel free to call on me with any other questions.Patrick McCarthy, Stonegate Mortgage Corp, 614-310-7520, www.StonegateMtg.com/PMcCarthy

I am a little confused by your question. Your credit score of 680 is not a bad score, unless that score is based on bad credit & no real trade lines on your credit report. Even though you have a score most Lenders want to see a track record of paying bills on time, usually that will consist of 2 or 3 open trade lines. You will have a great deal of cash so how much were you thinking of putting down for your down payment? Is you current home on the market for sale? am located in Murfreesboro, TN you can give my office a call & I can put a plan together for you to move forward. ThanksNancy Releford, 615-867-3060

Oh okay now that makes sense. Like I said in my previous answer, your going to have to show a payment history of paying your bills on time. What is the reason for your credit being so low.

Jinicoi: As we are all reading this the question is going to arise, all that money and bad credit? Unless you recently just came into the money. Many lenders will not like this scenario. With that much money settling debts worth $1000 is a little suspicious to underwriters (gate holders of approving mortgages) and they will want to know more... You will need a better score. Pay off everything you owe. Get it off your credit (write letters to the CRA's). Open several secured visas.. Bank of America reports it as a revolving line without para-phrasing secured. This will help boost your score. It will not provide trade history of 12-24 months but you will have a score that is worth their while.. Three things are needed to buy a good score which normally comes from good credit history, source of income ( same for two years), and down payment (skin in the game). All three are great but lenders will do two out of three... With exceptions... Unfortunately having the money isn't sufficient for it will only raise more questions as I mentioned earlier. Not to say lenders won't offer you a high rate with a 20-45% down payment...