I have a 614 score. Owe 52,000 on home worth 115,000. Twelve years into a 30yr fixed at 7.0%. Can I get refinanced to a 15yr fxd?

It is not difficult at all to do what is necessary to get to a 620 score from 614, in most cases. Then you can be eligible for a 15 yr fixed.I deal alot with credit scores from 500 to 639 which most lenders do not. A few more deal with 620 and up. I have an associate who is doing a loan for a client of mine in Texas, currently. I would be happy to refer you tohim. Please just go to my website and submit contact information....www.larrygraymortgage.com.

There's too much info missing to properly advise you, since we need to know much more than just your credit score, however in general, if your score is under 640, you have fewer and fewer options.. that being said, working with a qualified, local mortgage broker, it should be no problem to raise your score above the 640 mark.. once you get there, you should have endless options available to you.... 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. 480-287-5714 WilliamAcres.com

Get your credit up to 620 for best results.

Hello and good afternoon. Technically you may be able to under the Home Affordable Refinance Program (HARP) if your loan is owned by Fannie Mae or Freddie Mac. Most lenders will not go below 620 as they put their own overlays on top of Freddie Mac and Fannie Mae's rules to reduce risk to themselves of having to repurchase loans with higher risk characteristics. If your loan is not a loan that Qualifies for HARP then you do need to get your credit scores above 620. Also, the terms will be better when your scores are over 620 as there are many lenders that will do the loan instead of the reduced pool that have no minimum score overlays for the HARP loans. I hope that this helps you. Have a great night.Brad Cahoone - 972-724-3222 ext 227 - bcahoone@globalhomefinance.com - globalhomefinance.com

Yes you can but you would be much better off by getting your score up to at least a 620 which shouldn't be that hard to do. Get with a Lender411 loan officer to help you.

Fix your credit first and then start with the mortgage.

I agree with a few of the comments about getting your score to 620. Rate will be much better and there will be more lenders that can help. Find a LOCAL lender on this forum who can refer you to a reputable credit repair firm. Best of luck to you!

As long you qualify with you income and have you judgements or leins, you should be able to get a loan.

simple answer is yes. More info is needed to see what the best option for you is. You would be best served to try and get your score to at least 620 or better.

A score under a 620 will keep you from being able to secure a Conventional Refinance, however, the rates on an FHA Refinance would cut your rate in half. With an FHA loan, you will have a monthly mortgage insurance premium, but with the drastic reduction in rate, it would still be of a significant benefit to you. We can do credit scores down to a 560 anywhere in the state, so if you'd like a quote on just how much this would save, contact me through the info on my profile. The only cost to you out-of-pocket is to the appraiser, which is typically $450. If you'd like to work with a Texas lender based in Austin, give me a shout.