659 Credit Score Mortgage

Options for getting a mortgage loan with 659 Credit score

With a credit score of 659, you have the option to get conventional mortgages, Jumbo, Super Jumbo, FHA, Va, USDA, Non-QM, and hard money loans. Lendersa can help you decide which loan program is most optimum based on your unique financial situation and needs. For commercial properties-type loans, your credit score is good enough for certain bank loans, Subprime SBA loans, or loans funded by private money lenders.

Best rate & terms for your 659 credit score

To be approved for a loan, your credit score is one of several factors that will decide the loan amount and the rate& terms you will get. Among the factors are: low LTV, income stability, cash reserves, low Debt to Income Ratio, Co-borrowers' credit and financials, property conditions, and ten other factors that combined may help or prevent you from getting the loan you need. Timing is another factor to consider, and unfortunately, big banks are often slower than alternative smaller lenders.

Compare 10 lenders to match your unique financing needs

Or check some of the best lenders in the country: https://www.wellsfargo.com/mortgage/rates/ https://www.bankofamerica.com/mortgage/mortgage-rates/ https://www.citi.com/mortgage/refinance-rates https://www.rocketmortgage.com/mortgage-rates

The benefit of using Lendersa advanced qualifier is that it is faster, reliable, and does not require your social security number or other confidential information.


659 credit score mortgage

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Private money lenders for credit score 620-679 659

When you need a mortgage fast and can't wait for bank approval, your only option is to look for private lenders (Hard Money). It is a misconception that only borrowers with bad credit are using hard money loans. Banks must have your tax returns and full financial records before they approve your loan, regardless of credit. When time is of the essence, getting a private money loan could be much more beneficial than letting an opportunity slide by because of bank latency.

Owner-Occupied Residential Non-Owner-Occupied Residential Commercial Hard Money Vacant Land
Max Loan to Value 65.69$ 65.79$ 66.49% 52.98%
Programs Hard Money Hard Money Hard Money Hard Money
Points 2.02 2.75 2.5 2.81
Rate 10.25% 11.14% 10.65% 12.34%
Loan terms 1—5 years 1—10 years 1-10 years 1-3 years
Property Condition Any Any include Fixer-Upper Any Unentitled land- reduce LTV to 32%

The Rates & Terms depend on the Loan-to-Value, credit, property location, condition, and local real estate market condition. Unlike the FHA loan, which has standard underwriting, private money loan programs differ significantly between lenders. It behooves you to contact and get quotes from at least three lenders before you make a decision. See a list of potential hard money lenders or use the Lendersa form to shop for your loan simultaneously with hundreds of private money lenders.

How mortgage brokers rip you off

A small percentage of mortgage brokers could take advantage of your great credit score by trying to charge you an arm and a leg. Therefore, it would be best if you compared 3-10 lenders' programs before deciding on the best lender, thus avoiding mortgage brokers' rip-offs and loan sharks.

Improve your credit score for mortgage

Improving your credit score to above 680 will enhance your chances for better loans. Understanding how credit scores work is the first step to raising your credit.

Here are a few links to resources that could raise your credit score: https://www.usa.gov/credit-reports https://www.fanniemae.com/crediteducation https://myhome.freddiemac.com/refinancing


List of lenders who consider lending to borrowers with 659 credit:

  • Integrity Financing, Inc
  • 19302 Collier Street, Tarzana, CA, 91356
  • Integrity Financing, Inc offer you 25 years of Knowledge, Experience, Professionalism and Integrity. My clients know me as a go getter, the one that gets the job done!! Not only done, but well done, efficiently and painlessly. In my many years in this business I have affiliated and partnered with the best banks and lenders around.
  • Impact Residential Mortgages Inc
  • 13508 Fladgate Mark Dr., Riverview, FL, 33579
  • Impact Residential Mortgages,Inc. At Impact Residential Mortgages, we will find a loan that fits each borrower. Unlike big banks or Online Lending Companies that have order takers helping you with your loan, we have highly skilled Mortgage Loan Originators. Our Originators know what it takes to get through underwriting quickly.
  • Canon Signature Mortgage
  • 715 Main St, Canon City, CO, 81212
  • Our mortgage team members will give you the individual attention you deserve and treat you with the respect due a valued customer. We understand you're making a commitment in purchasing a home, refinancing a mortgage, or tapping into your home equity. So we make a promise to you: we will help you qualify, apply and be approved for the ideal loan.
  • NuVista Federal Credit Union
  • 2711 Commercial Way, Montrose, CO, 81401
  • NuVista Federal Credit Union which was originally Montrose Federal Credit Union was established in 1964. It was built on honesty, integrity & self worth.We hold that same foundation today.When first opened the credit union was for federal employees only. Times have changed & we know now that the support of the community as a whole is what helps us.
  • Direct Financial
  • 600 Lafayette E, Detroit, MI, 48226
  • Direct Financial is a division of New England Federal Credit Union (NEFCU), a financial institution headquartered in Vermont with a 50-year record of successfully helping members improve their financial conditions. Members served through Direct Financial are members of NEFCU. Anyone who lives, works, or studies in the Michigan
  • IntroLend
  • 6629 S. 1300 E, Suite 4, Salt Lake City, UT, 84121
  • IntroLend .com is the nation’s most advanced consumer lending platform. Specializing in mortgages (both new purchase and refi), but also serving the needs of vehicle, credit card and personal loan shoppers, IntroLend fuses industry-leading technology to white-glove personal service.
  • First Midwest Bank
  • 704 N Westwood Blvd, Poplar Bluff, MO, 63901
  • As a locally owned and managed community bank, we are efficient in responding to customer needs. We listen to each situation and offer appropriate solutions to help our customers meet their financial goals. We pride ourselves in our commitment to the communities in which we live, work and play and the loyalty of our employees to our organization.
  • Dynasty Mortgage Network LLC
  • 707 Union Avenue, Suite 201, Brielle, NJ, 08730
  • Dynasty Mortgage is a premium mortgage company dedicated to providing affordable home loans for customers with various types of credit records. Whether you want a fixed rate mortgage, adjustable rate mortgage, a home equity loan, refinance, purchase, investment or debt consolidation, we have a loan for you with the lowest rates available.
  • Hamilton Mortgage Services Inc
  • 11776 W. Sample Road, Suite 104, Coral Springs, FL, 33065
  • The Hamilton Mortgage Services Inc. Team is a premiere mortgage company located in Pembroke Pines, Florida. We pride ourselves on offering some of the lowest rates available without sacrificing excellent customer service. Our goal is to ensure that you are choosing a loan that fits both your present and future needs.
  • F&M Bank & Trust
  • PO Box 928, Burlington, IA, 52601
  • Since 1916, we've built our bank on the belief that each and every client is important. Because of our personal approach to banking, today we offer a combination of technology, convenience and service you won't find anywhere else. Farmers & Merchants Savings Bank was chartered on March 1, 1916.
  • DC Credit Union
  • 3059 Mount Pleasant Street NW, Washington, DC, 20009
  • DC Credit Union We're a community development financial institution, serving over 10, 000 member-owners' with affordable financial transactions and education. We have three branches: the Reeves Center, the Municipal branch, and the ACCESO branch. Check out our website for more details on locations, hours, and services