Can I get a 5% down 30 year fixed mortgage with a 640 credit score?

Probably. The answer will depend on the total package you present to the lenders, but you should be able to go conventional with 5% down or FHA with 3.5% down. Work with a local Mortgage Banker/Broker rather than one of the big banks or big national mortgage factories. Unlike a bank employee, who is most likely just an order taker, a Mortgage Broker/Banker is Trained, Tested and Licensed in all aspects of Mortgage Origination. We have access to loan products of MANY lenders, not just those of ONE bank, and can properly guide you. But more importantly, we are trained to take a look at the various different options available to you and guide you into the one that makes the best sense for your situation. Don't forget to check out your selected Mortgage Originator at the National Mortgage Licensing System at www.NMLSConsumerAccess.org ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Certified by the National Association of Mortgage Professionals and Licensed in California and Arizona ~ Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950

5% down does exist, and 640 is the threshold for most lenders, so it's very possible.. However there's so much more info missing that no one here can say for sure.. Job time, income, type of income, previous credit history, etc.. All play into whether you can get approved or not.. Not just the credit score... if you really want to know for sure, you should contact a LOCAL mortgage broker and apply with them. Do not use the local "Big" bank, or one of those 50 states internet lenders or nationwide lenders...By applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower 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. 480-287-5714 WilliamAcres.com

Yes. An FHA loan requires only a 3.5 percent down payment and a 640 score can qualify. There are still other factors to look at such as overall credit profile, income, and assets. My advice is to obtain a preapproval prior to beginning your home search and you will know for sure.

Yes. You could even possibly get a conventional loan with certain banks like at PNC under certain programs that they offer. Otherwise you'll have to go with an FHA loan. It really would depend on several factors like your loan size, loan amount, credit score, annual income, etc.. Call us at PNC mortgage if youl'd like to be Pre- Approved for a mortgage and what lyou loan options might be at this time.. --- thanks Keith (201)788-2368

Yes, you can get a 30 year fixed mortgage with a 640 middle score ,either FHA or Conventional. I am a direct mortgage lender with FHA and FANNIE MAE. We close loans in less than 21 days. Call me at 478-320-4152Thanks

Score alone does not an approval make... But assuming everything else is OK, then yes. A 640 score in and of itself is high enough to get mortgage loan. Contact a local mortgage broker for more details. In MN or WI, visit www.MortgagesUnlimited.biz

my suggstion is to get a pre-approval from a local broker. most realtors want it before they are willing to work with you.there is also a possibility for you to do a rescore which will reduce bank costs on your loan. the office is on staten island just past the bridge. e-mai me if you have an interest in doing a pre-qualification

It is possible. It depends on the overall credit worthiness of the borrowers. Call me at 631-766-0778 to discuss.

Yes as long as your debt to income works as well. Call us or email us at 201-962-3555 or Team@BestMortgageOption.com for ano cost no obligation analysis of your situation.Ask for Michelle or Benny We will find the Best Mortgage Option to suit your needs!You can check us out at www.BestMortgageOption.com

Yes, there are a few options for you at a 640 credit score. I am very local to you. If you would like to speak further or meet please email me directly at NYLOANMAN@aol.com Peter Savino

YES!!! We are Direct Lenders Here in NY. Call me for a fast, free Pre Approval. 347 231 4444 Peter Botros. You can Also email me at PBotros@OmegaLoans.net

Yes, FHA.

YesGranted you meet the income requirements and do not have any other items that would block you on your credit report (such as judgements, bankruptcies, foreclosures).Best of luck to you and have a great day!