credit score is 630, looking to put 15% down on a $340,000 townhome.

Our minimum credit score requirement is 620! Call me 517-489-2440 or fill out a online application at www.gustheloanguy.com

You can go as low as 580 with a minimum down of 3.50%. If you need any more info, you can call me at 480.650.8602 or email me at tcanto@amerifirst,us

Much more info required to properly answer your question.. but in general... Yes.. this can be done, but if you go conventional financing, then because of your low score and low down payment, the rate will be high as well as the mortgage insurance rate.. If you go FHA, you would only need 3.5% down, and the rate will be much better and the MI rate would not be adjusted because of your low credit score.. There is little different in the FHA finance rate and MI rate when comparing borrowers with high vs low scores.. But with conventional, it can be vastly different.. For this reason, I suggest you 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

Conventional loan is your best option -avoid FHA and the high fees associated with it. Justin Murray JMurray@WintrustMortgage.com 312-256-4065 A 630 Credit score is acceptable to get this done.