@Gstew wrote:
Scores went up to 636 today! Maybe if I get it to 640 ill have a better chance? What's a roundabout guess of the lowest score for a construction loan?
Banks tend to be more reluctant to lend in that range for a construction loan, because they are extending money for the production of collateral that doesn't exist yet, so in essence at the outset it is an unsecured / partially unsecured loan. Because of that, they tend to want higher scores before they will talk about a CL.
That said, every bank is different. Best advice, again, is to talk to the lenders that you have in mind and find out from them exactly what they can offer you and what criteria they are looking for re: credit scores, etc.
FICO 04 scores: 809 (EQ) 812 (EX) 818 (TU)
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