What is a normal mortgage intrest rate for poor credit..credit score about 620?

A 620 middle score is usually the absolute lowest score they will take - unless it%26#039;s FHA, of course.

You really should consider doing some credit repair, if you have time, before applying for the loan.

What is a normal mortgage intrest rate for poor credit..credit score about 620?

about 6.75

What is a normal mortgage intrest rate for poor credit..credit score about 620?

620 really isnt that bad, unless you have had mortgage lates in the past 12 months. I would look at FHA. Thats a conforming loan. 3% down, or 95% cash out. Ive done FHA at 580 before.

What is a normal mortgage intrest rate for poor credit..credit score about 620?

There are two types of mortgages according to the type of rate: fixed or adjustable. Consult a mortgage broker or contact the lender directly asking for quotes. This lets you decide between both the varieties of mortgages.

Fixed mortgage rates use the current interest rate throughout the duration of the mortgage. If you want to pay a fixed amount every month, opt for fixed mortgage rates. Adjustable-rate mortgages vary according to economic scenario and hence can rise or fall. This means your monthly payments will vary as the interest rates change.

What is a normal mortgage intrest rate for poor credit..credit score about 620?

It depends on the program you get into; you can actually get something around 7% if you are in the right program; you need a good loan officer to steer you into something solid like FHA or My Community. I recommend First National Banc Corp. They do business in most states and are your best opportunity for someone to say yes. ADDITIONALLY, IF YOUR CREDIT IS SUSPECT, THEY SOMETIMES FRONT THE MONEY TO GET YOU INTO A CREDIT RESTORATION PROGRAM SO THAT YOU CAN QUALIFY FOR A LOAN. Check out the free evaluation form at the source website and a First National loan officer will contact you within 24 hours. Good luck.