658 Credit Score Mortgage

Options for getting a mortgage loan with 658 Credit score

With a credit score of 658, 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 658 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.


658 credit score mortgage

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Private money lenders for credit score 620-679 658

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 65.67$ 65.77$ 66.47% 52.96%
Programs Hard Money Hard Money Hard Money Hard Money
Points 2.03 2.76 2.51 2.82
Rate 10.26% 11.15% 10.66% 12.35%
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 658 credit:

  • Fairfield Financial Services, Inc
  • 16055 SW Walker Rd #247, Beaverton, OR, 97006
  • Fairfield Financial Services, Inc. (NMLS number 260898) has been coordinating hard money loans in the Pacific Northwest (Oregon and Washington) since 1964. Our services have recently expanded to include Alaska, California, Colorado, Florida, Idaho, Georgia, Montana, Oklahoma, Texas, Nevada, New York, and Wyoming. We now have sources available to le
  • Valley Premier Bank
  • 416 Sixth Street, Hawley, MN, 56549
  • Valley Premier Bank continues to be locally owned and operated by the same people in the same locations. Both offices offer traditional bank products, which include commercial, real estate and consumer loans, checking and savings accounts, certificates of deposit, safe deposit boxes
  • ChoiceOne Funding
  • 2941 Sunrise Blvd, Suite 220, Rancho Cordova, CA, 95742
  • ChoiceOne Funding has built its foundation on the highest level of honesty and integrity. Our qualified and licensed professionals have over 20 years experience and offer expertise in every area of mortgage lending: Conventional, FHA, VA, USDA, Section 184 Native American Loans and Reverse Mortgages.
  • Pillar Financial Group
  • 8345 Firestone Boulevard, Suite 320, Downey, CA, 90242
  • Pillar Financial supports customers by providing Commercial and Residential lending solutions to help our customers reach their Real Estate goals you are in the research phase at the beginning of your refinancing or purchase search, And also founder of the Jonathan Calderon want to help you I am a real estate professional and finance specialist.
  • CapSource
  • 555 Winderley Place, Suite 300, Maitland, FL, 32751
  • CapSource is a full-service commercial mortgage broker tailored to provide capital resources, investment properties, and full-time real estate coaching to both seasoned and new investors. Our services ensure that our clientele receive industry leading rates and terms customized to your real estate investment needs.
  • Legacy Bank.
  • 502 8th St. SW, Altoona, IA, 50009
  • At Legacy Bank, we are committed to providing excellent customer service and quality financial products at competitive rates. Legacy Bank is a locally owned and operated community bank. We have been serving the area since 1904. We promote growth and development around central Iowa and look to foster success for all of our customers.
  • LBC Capital
  • 100 Bush St, San Francisco, CA, 94104
  • LBC Capital is a unique California hard money lender for real estate investors looking for financing in a matter of days. LBC Capital offers flexible underwriting, attractively priced hard money loans, no hidden fees and quick funding. We develop long-term relationships with our clients through our professional service and exclusive loan terms.
  • Premier Home Loan Group
  • 217 E. Palm St, Exeter, CA, 93221
  • Our mission is to set a high standard in the mortgage industry. We are committed to quality customer service - putting the people we serve first. Our goal is to carefully guide you through the home loan process, so that you can confidently select the best mortgage for you and your family from the many mortgage options that are available today.
  • Fitzpatrick Capital
  • 1921 Palomar Oaks Way, Suite 201, Carlsbad, CA, 92008
  • Fitzpatrick Capital was founded in 2003 and has grown to be one of the most reputable mortgage companies in the greater San Diego area. Meghan and the Fitzpatrick Capital team take pride in assuring that all clients are represented and served in the finest way possible. A master of her Industry
  • Railroad Federal Credit Union
  • 1808 2nd Ave South, Irondale, AL, 35210
  • Our credit union was federally chartered in 1956 to serve persons sharing a common bond. In our case, the common group being employees of the Southern Railway System in Alabama, now known as Norfolk Southern Railroad. For many years, the credit union's office was located in the diesel shop at Norris Yard.