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Construction Loan with a 620 score?

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Tooliebell
Frequent Contributor

Construction Loan with a 620 score?

Is it going to be possible for me to obtain a construction loan with a score of 620?  I am still working up to that point, but the FICO simulator here says i can do it in 3 months with on time payments. 

 

We own the land, have a mobile home and barns on the property.  We should be fine in terms of value after the house is built and our debt ratios are good. 

Message 1 of 4
3 REPLIES 3
Anonymous
Not applicable

Re: Construction Loan with a 620 score?

In what state are you located?

 

Message 2 of 4
Tooliebell
Frequent Contributor

Re: Construction Loan with a 620 score?

Michigan.  We currently live on the land in a mobile home. 

Message 3 of 4
Anonymous
Not applicable

Re: Construction Loan with a 620 score?

how about for Texas, my score are 626 right now and I am wanting to build a house on my land.

Message 4 of 4
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