WHAT ARE ARIZONAS MINIMUM CREDIT SCORING STANDARDS FOR A MORTGAGE BANKER?

Are you asking what the minimum requirements are to get a loan with a banker or to become a banker?

We do allow a FICO score of 500 on FHA financing. If you would like to discuss your options give me a call 602-531-7040 or email at jafonso@azhomerates.com.

For mortgage finance, lenders have varying levels of acceptable risk.. Some will go down to 500 credit scores, while others require 640 or above.. But understand that the lower the score, the more strict the guidelines, and few that apply actually get approved.. also understand that it takes some much more than a credit score to get financing.. I've seen folks with 750 credit scores and because they didn't meet a certain guideline or requirement, they were denied.. to find out if you can qualify or not, then the best advise i can give you would be to contact a LOCAL mortgage broker and apply with them. 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. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com