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636 Fico, Good Job, Can I qualify for a MTG with this score?

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New Member gla
New Member

636 Fico, Good Job, Can I qualify for a MTG with this score?

I dont know what to do to raise my score.

One of my daughters had/s epilepsy and the medical bills, even with coverage (balances) were too much to keep up with, although she is an adult now  there are still a couple of dings on my report from 2008.  Aside from this I have 3 credit cards all below 5% usage, and a paid off auto loan.

 

I dont know how to better  my score , and really want to know if any bank will finance me with 636 score if I  have 30K to put down (In california).  Any help would be appreciated very much!

Message 1 of 7
6 REPLIES 6
Frequent Contributor

Re: 636 Fico, Good Job, Can I qualify for a MTG with this score?

To be able to help you you're going to have to give more info about

Income

Where are u getting that score from

What's your price range

Debt

The experts on this board will help you .

Message 2 of 7
New Member gla
New Member

Re: 636 Fico, Good Job, Can I qualify for a MTG with this score?

make 60k annually

only debt is  combined (from 3 credit cards) balance right now (after x-mas roughly 500.00, intned to pay off by eom Jan

*Just paid off my car November

I have no debt,

My Fico score is from this web site..

 

Message 3 of 7
Frequent Contributor

Re: 636 Fico, Good Job, Can I qualify for a MTG with this score?

Mortgage lenders don't use the same scoring model .

The only way to find out whether or not u will be able to get a mortgage and for how much is to actually apply for it.

That's what I would do. Apply and if any issues arise u will have time to correct them 

Message 4 of 7
New Contributor

Re: 636 Fico, Good Job, Can I qualify for a MTG with this score?

That score is good enough for a mortgage. Last year I was approved with a 612. I never went through but was still approved. Score is only a small part of the approval process. What matters most is debt to income and payment history. If you have that kind of money down the IMO would only further the security of the loaning bank. Best thing is to apply at a bank and see. People seem to have greater success with home banks they have established relationships with.


Bank w/ NFCU & StateFarm
CC's- NFCU, Cap1, Chase, Discover
Store card- Best Buy, Dell Preferred

Experian FICO 650
Message 5 of 7
Frequent Contributor

Re: 636 Fico, Good Job, Can I qualify for a MTG with this score?

Oh, they use the middle score 

Do you know all your scores ?

Message 6 of 7
New Member gla
New Member

Re: 636 Fico, Good Job, Can I qualify for a MTG with this score?

Thank you, I appreciate it

Message 7 of 7
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