What is the lowest credit score I need for a decent mortgage loan?

About 620

What is the lowest credit score I need for a decent mortgage loan?

700

What is the lowest credit score I need for a decent mortgage loan?

The lowest I would try for a mortgage loan with is a median score (middle score) of 620. I work with mortgage companies from Baltimore to San Diego getting their clients' credit scores up to 620. You get a better rate, put less, if any down, And the process is easier. Did I mention BETTER RATE? When you look at the amortization of a 30-year note and look at the difference between 6% and 7% you would be shocked to see how much more you paid by trying to get a loan before your credit was where it needed to be when you got the 7% loan. And I'm not trying to get your business - you can attempt to fix your credit yourself.

Good luck!

What is the lowest credit score I need for a decent mortgage loan?

Depends on how you define %26quot;decent%26quot;.

I agree, 620 is the lowest for a conforming loan which typically carries a lower rate. However, your rate will also depend on how much you put down and whether or not you can prove your income and assets.

However, you can get an FHA loan with a 580 and the rate isn't that bad either.

Check with a local broker to get pre-qualified.

What is the lowest credit score I need for a decent mortgage loan?

i don't think you should apply unless you are over 600 at least..

What is the lowest credit score I need for a decent mortgage loan?

Mortgage rates differ a lot and are based on your credit rating and the value of the home. Before approving your loan, your lender will scrutinize your credit history. There are two types of mortgages according to the type of rate: fixed or adjustable. Consult a mortgage broker or contact the lender directly asking for quotes. This lets you decide between both the varieties of mortgages.

http://lower-your-debts.com/category/Mor...

What is the lowest credit score I need for a decent mortgage loan?

to tell the truth--ya might want to clear out as many credit issues,,before apply for a mortgage,,your rate will be X-TREMELY,high due to the scores,,been there--then it takes time,,for the credit bureau to get the info,from the creditor and process,,it;s not a pay to today,apply tommoroow(been there that;s how i no)it;s timme...and effort(your monthly mortgage will be outrageous,==do your homework first