Can someone get a loan for 167k with a credit score of 620?

Question

Can someone get a loan for 167k with a credit score of 620?, or 90% of a loan, already paid 10%.

Answer 1

If you're talking about a mortgage, then yes. 620 shouldn't be a problem barring any huge credit issues you haven't mentioned such as credit counseling or bankruptcy.

If you don't own a home, then a loan that size is more than likely out of the question. It's not a terrible credit score, but it's one you can likely improve upon quickly with some simple changes. Read more about how to fix your credit organically below.

Learn more at http://www.thetruthaboutmortgage.com
Learn more at http://www.thetruthaboutcreditcards.com

Answer 2

For getting any kind of loan Credit History is much more important than credit score. Often, the lack of credit history is equated with bad credit. You should be aware that lenders will go through your credit report once you apply for loan for buying a house. Therefore you should polish your credit report. Anyway, in order to establish a good credit history and at the same time risen your credit score in a short time do following things:

1) Close all of your credit cards but one. It reflects in your credit report and it is a very good sign. For instance say that you have 5 credit cards with $1000 credit limit for each. Therefore you are responsible for $5000 of possible debt. But when you close 4 of them, now you are only responsible for $1000 of debt which lowers the level of risk of lending money to you.

2) If you have any loan, like car loan or any balance on your credit cards, try to pay more than your monthly payment for 6 months or something. I mean say your monthly due on your car loan is $150, try to pay $250 each month. Lenders can see these trends in your credit report and they see that you’re a responsible borrower.
If you don’t have such loans, I suggest getting a $3000-$4000 loan and paying it off in full in 5-6 months. You might pay $200-$300 of interest but you will save thousands of dollars in your home mortgage and interest rates.

Also checkout http://www.howtoestablishgoodcredit.com/Credit_Articles/index.php
There are lots of articles there, related to your question, which you can find useful to boost your credit.

Answer 3

I'm sure you could... but I'd advise trying to raise your credit score first, if at all possible. If you need this NOW, there are plenty of sub-prime lenders out there, though they may be hesitant to loan to you considering what's been going on at Wall Street lately. If you can manage to get your score up by 100 points (assuming this is a FICO score), you could save a LOT of money on interest. Best of luck!

Answer 4

I am Mr Peterson Chris.I am a legitimate loan lender who gives out loans at low interest rate of 3%.Are you finacially down?Do you want to pay your bills?Is your credit score low?If yes,then you are in need of a loan.I deal with only honest people who are really in need of this loan.If interested contact me today with the loan of loan you need so that my loan terms and condition will be forwarded to you.You are to mail me or contact me through this email address

[e-mail]

Answer 5

yes you can
if you pay 100k down
we will be glad to finance the rest
at 30% interest apr
mr 620

Answer 6

yea. it also depends on what your income is. shot me an email i will see what i can do for you. i'm a loan officer

Answer 7

Depends on your income and down payment.

Answer 8

As long as your income would qualify you for the payments they would probably hook you up...

Answer 9

YES - TRY NOVASTAIR FINANCIAL -