What type of loan has the most stringent form of credit guidelines?
Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,843 contributions
Today? In the mortgage world? All of them! Joking aside, I'd have to say anything with down payment assistance...
Brian Curl (brianleecurl)
#9 ranked lender in Kentucky - 22 contributions
Conventional Mortgage loans have the strictest credit/underwriting/debt ratio qualifications.
Carlo Sanchez (MortgageLendingPro)
#0 ranked lender in Utah - 1,163 contributions
Depends on if you are doing a purchase or a refi. In general a Conventional loan has the tighest guidelines but there are a great MANY variable with each situation.
Jason Vondrak (jvondrak)
#220 ranked lender in California - 1,741 contributions
Generally conventional loans.
Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,249 contributions
Jumbo loans, or anything with a credit score at the low end of the "acceptable" range for that type loan.
Elden Lewis (elewis_409_299)
#41 ranked lender in Indiana - 223 contributions
As a rule conventional would be the most stringent form financing. Most lender require a higher credit score on conventional than FHA, VA or USDA.
Peter Botros (PeterBotros)
#70 ranked lender in New York - 895 contributions
Coventional or jumbo loans.. interest only loans
Adrielle Edwards (AdrielleEdwards)
#902 ranked lender in California - 96 contributions
Conventional loans have the most stringent credit guidelines. FHA and VA are less strict due to the fact that they are insured by the government. However, you do have to pay for this insurance. If you are concerned about your credit, it would be wise to speak with a mortgage banker about your specific situation and see what you are eligible for. Also, if your scores are low, you can always work on improving them before you buy.
Joel Lobb (kentuckyloan)
#3 ranked lender in Kentucky - 192 contributions
Fannie Mae due to credit score requirements, foreclosure seasoning, and debt to income ratios. Appraisals are the same with each lender as far qualifying.
Peter Botros (PeterBotros)
#70 ranked lender in New York - 895 contributions
Coventional or jumbo loans.. interest only loans
Joe Shamie (Joe Shamie)
#4 ranked lender in New Jersey - 1,412 contributions
Convertional loans a are more credit scrore driven than govenrment loans.
Josh Lund (Josh_Lund)
#44 ranked lender in Minnesota - 113 contributions
Conventional or jumbo loans
James Mazzola (Mazzola)
#109 ranked lender in New Jersey - 314 contributions
Coventional or jumbo loans.. interest only loans
William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions
Conventional and Jumbo... 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
William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions
Conventional and Jumbo... 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
Dave Metsker (DaveMetsker)
#35 ranked lender in Oregon - 2,318 contributions
Jumbo conventional loans.
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