Mark asked in Business & FinanceCredit · 1 decade ago

Can I get a home Loan with a 640 credit score?

I live in Mass and I have a credit score of 640. What are my chances in getting a home loan?

5 Answers

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  • MadMan
    Lv 7
    1 decade ago
    Best Answer

    It depends on a lot of other variables but you might qualify for an FHA loan. No other lender will give you a mortgage with this credit score.

  • Joan
    Lv 4
    4 years ago

    That repo needs to be paid. Until that is gone your credit gives indication you will default on an a loan instead of work through the problem. An underwriter does not want to see that. 0% down is not as common these days. Sellers can pay for some closing costs but you still need some cash. If you would work you could save a nice down payment in just a few months.

  • 1 decade ago

    You won't be able to get a regular mortgage but you should be able to apply for a FHA loan. Your credit score needs to be 620 or higher.

  • 1 decade ago

    That depends on other variables, such as your debt to income ratio and collateral. Your best bet is to stop by your bank and simply ask them if it's worth applying for. Not all banks work the same, so some may not offer you a loan while others might.

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  • Anonymous
    5 years ago

    I went all over the web and found tons of scams. Nevertheless this site helped for us= financial-care.info-

    RE Can I get a home Loan with a 640 credit score?

    I live in Mass and I have a credit score of 640. What are my chances in getting a home loan?

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