What is the minimum credit score needed to get a home loan in kansas?

Like Barb said 620 is the best rule to find. Some go to 580 but they are long processes and usually end up asking for a larger down payment and have a higher rate. If you are already above 580 is sometimes easier to work on fixing your credit score to get it above 620.

Most FHA lenders require a 640 or above, while most conventional lenders require 660 or above... There are exceptions.. There are FHA lenders that will go as low as 500; however most will not qualify since the guidelines are very strict... Also note that FHA does not necessarily require a credit score... they will insure loans if you have no credit score because of a lack of traditional credit.. They can use alternative credit as a basis for their decision. If you go conventional with less than 20% down, expect to pay a higher rate, both interest rate and monthly mortgage insurance premium... 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

It's depends on each lender, but in general 620 will do it for you. Some lenders will do an FHA down to 580, but they are difficult to find. Find a local mortgage broker, not a big bank, and you should have luck.

do you know your credit score? if you gotten from a internet free site, it may be lower do to a lot of those sites will give you a credit report , lower, and if you look at the fine print, they will want to clean up her credit report for a large monthly fee . very long time . linda

It depends.. Conventional is 660 across the board... But FHA depends on the lender. FHA technically allows down to 580 with just 3.5% down, but that vast majority of lenders require at least a 640. There are a small number of lenders who will lend in the 580 - 639 range, but realistically, save yourself the hassle and strive for the 640 before applying. www.MnBestRates.com

In my state for most investors it is as follows: Fannie Mae 620, USDA 640, VA 620, FHA 640

Bottom line, generally 600-640 for a FHA or VA loan but you may find the rate a little higher for a barely acceptable score. Conventional is 620 if you have 20% downpayment but expect to pay a higher rate; or, 660 if you have a downpayment less than 20% (as little as 3% is possible). Conventional interest rates are affected much more significantly for a lower score so that in many cases if you do not have a 720 score FHA may be a better option. I'd be happy to answer specific questions or scenario's and can lend in Kansas (actually grew up in KC) if you need a good lender to work with. pdumouchel@primelending.com or 843.619.6025

Many lenders will require a 620 and above for FHA. Though FHA guidelines state they can go as low as 580 with a minimum of 10% down but to get the 3.5% down payment with an FHA you will require a score greater than 620. If you are asking this question I would assume it is because you have low scores. Look at your credit reports (Experian, Trans Union, & Equifax) to determine why your scores are low. The rul of thumb for revolving credit is keeping the balances low between 30-40% of the credit limit. Revolving trade-lines make up 35% to 45% of your credit scores. Inquiries drop your credit score at least 5-8 points. You can easily dispute inquiries from creditors you do not have open credit with, by submitting a written letter to each of the CRA's (credit reporting agencies). Remember each inquiry deleted will boost your score 5-8 points. If you have collections pay them off and then dispute them to get them deleted. Collections or R-9 as they show up on a tri-merged report and are devastating to your credit score each R-9 can cost you as much as 50 points. Credit Scoring system is a numbers game and when you understand what it is that is keeping it low, you have already gained insight as to what your next step needs to be to get it into the 700's. A 700 credit score isn't that hard to obtain if you follow the right steps... Another thing to help bump your score is called piggybacking.. If you have a relative with an established credit card, meaning more than 2 years old with great reporting history they can can add you as an AU (authorized user) and you will reap the rewards of their on-time payment history which will dramatically boost your scores. Best of Luck in your mortgage loan search...

Lenders these days require a minimum of 620. If you don't have any it could be you either don't have any credit or your credit is not reporting to the CRA's. If you have credit and it is not reporting you may want to contact your creditors and request them to re-report the trade-line. If it is because you simply do not have credit you will want to ask a relative or friend to extend their established credit rating to you via a strategy called piggy-backing. All they will need to do is add you as an authorized user, so that you can reap the benefits of their established and positive tradeline. Becareful however to not get added to trades that exceed your DTI, (debt to income) is calculate be your income and debt. Their debt (piggybacking debt) will be listed as your debt on your 1003 (mortgage application). And you want to be added as an authorized user to accounts that have a payment history greater than 2 years. Credit scores are merely a mathematical analysis of age of credit and credit availability... Best of Luck, Christina.

Johnny Grant home loan 3166702151