I have a credit score of TU 696 and Eq 690 as of now. I want to buy a condo in NJ with 5% down. Is it possible to get a conventional with credit score
I dont have any debt as of now(just closed a personal loan, not reflected in credit report yet) and have credit card payments which I mostly pay in full or have less than 10% of credit limit as balance(The minimum payment will be less than $100)
Not sure if it's different in NJ, but in CA you have to do 10% down on a condo or townhouse with a conventional loan. That's the route I'm going. The PMI is a lot less as well. Especially with the changes to FHA loans coming up. Good luck to you.
NACA offers conventional loans with 0% down, no closing costs, 30 year fixed at excellent rates.