You will need a minimum credit score of 620 to get a 97% or a 95% loan up to $417,000. (conforming loan limit in Texas)
You will need a minimum credit score of 620 to get a cash out loan on owner occupied property in Texas. (max 80% loan to value ratio)
For Jumbo loans (amounts above $417,000) you will need a 620 score to get a 80% loan to value ratio loan. In other words you would have to put down 20% on a jumbo purchase with this credit score.
There’s more to getting a loan of course than just the credit score. …but it’s a good place to start, and at least now you know what you need.
Please call me or email me if you have additional questions about your situation.
That’s it for today!
I hope you have a great day! Thanks for reading!
Brett
I’ve written about this before, but we have more and more people passing the age…
I had this situation come up again last week, and I wanted to address it…
One of the most important things you will have to do when you apply for…
I wanted to remind you that we have a 2% to 5% downpayment and closing…
If you receive money from the State or a County sponsored organization for providing foster…
Do you have investment property, and would like to pull cash out of your property?…