636 Credit Score Mortgage

Options for getting a mortgage loan with 636 Credit score

With a credit score of 636, 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 636 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.


636 credit score mortgage

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Private money lenders for credit score 620-679 636

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 65.23$ 65.33$ 66.03% 52.52%
Programs Hard Money Hard Money Hard Money Hard Money
Points 2.25 2.98 2.73 3.04
Rate 10.48% 11.37% 10.88% 12.57%
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 636 credit:

  • Innovative Closing Solutions
  • 351 N Peace Haven Rd., Winston Salem, NC, 27104
  • At ICS, we assess each transaction based on its own needs so that we can provide you with the right services for the situation. We are experienced with and equipped to handle contracts for deeds, private loans, lease purchases, lease options, purchase agreements, refinance closings, seller financing, assignments,
  • Best Coast Mortgage
  • 4844 Hollywood Blvd, Los Angeles, CA, 90027
  • Best Coast Mortgage is a full-service mortgage company with experienced staff offering 30 years of expertise in every aspect of mortgage lending including purchases, refinancing and commercial loans. Our lending specialists have access to a full range of mortgage programs and are dedicated to finding the right one to meet your unique needs.
  • Gabriels Community Credit Union
  • 1901 E Michigan Avenue, Lansing, MI, 48912
  • At Gabriels Community Credit Union. In 1957 a small group of parishioners joined together in the spirit of cooperation to offer members personal financial services. From this humble beginning, Resurrection Parish Credit Union was born. Over the years the Credit Union has grown up with the community
  • Rand & Associates Incorporated
  • 3901 Alamo Ave, Fort Worth, TX, 76107
  • At Rand & Associates Incorporated, we treat each customer as an individual, not a number. We don't place you into a loan profile formula created by the banking industry. We use "common sense" and will help you obtain the best loan possible. We represent a wide range of "A" rated lenders with first quality rates to private "hardship" lenders.
  • 1st Colorado Mortgage Solutions, Inc.
  • 2919 West 17th Avenue, Suite 115, Longmont, CO, 80503
  • At 1st Colorado Mortgage Solutions, Inc. it is our mission to carefully guide you through the entire home loan process, so you feel confident as you make choices about your financial strategy. Our experts take the often-confusing mortgage process and give you the clarity and understanding to get the right mortgage for your financial needs.
  • Guthrie County State Bank
  • 413 State Street, Guthrie Center, IA, 50115
  • Ever since our founding in 1931, Guthrie County State Bank has combined personal service with the latest in technology to make it easier, safer and more convenient for customers to manage their finances. We continue that tradition in the 21st century with a suite of high-tech products and services.
  • Apollo Trust Company
  • 201 North Warren Avenue, Apollo, PA, 15613
  • Apollo Trust Company, “A Bank You Can Believe In, ” has been going strong for 150 years. Organized and operated in Apollo, PA in an effort to help the borough’s people better manage and safeguard their money, the bank started after a meeting at Whitlinger’s Hall on May 16, 1871. Originally named “Apollo Savings Bank, ”
  • Excel Commercial Capital Corporation
  • 5784 Lake Forrest Dr., Atlanta, GA, 30328
  • XCEL Commercial Capital was formed in May 2010. It was formed as an offshoot of HomeStar Mortgage, Inc., which was incorporated May 1999. Over the last 11 years, we have originated many commercial loans stemming from requests from current and past customers, commercial real estate brokers, and other referral partnerships.