Can You Get a Jumbo Loan with a 680 Credit Score?
If you have a 680 credit score you may potentially qualify for a non-prime jumbo loan. While most jumbo mortgage lenders require a borrower to have a credit score of 720 or higher, there are some non-prime lenders that offer jumbo loans to borrowers with a credit score as low as 580.
What Do Non-Prime Jumbo Loans Offer?
Non-prime jumbo loans provide much more flexible qualification requirements than prime jumbo loans. Several mortgage lenders offer non-prime jumbo loans, which have the following advantages:
- Qualify with a credit score as low as 580.
- No waiting periods after bankruptcies, foreclosures, or short sales.
- LTVs as high as 95%.
- Loan amounts available up to $5,000,000.
- DTI ratios as high as 50% accepted.
- Foreign nationals and ITIN borrowers may be eligible.
- Asset depletion allowed (use your assets instead of income to qualify).
- Options to use your bank statements instead of tax returns (bank statement loans for self-employed borrowers).
The exact requirements to get a non-prime jumbo loan vary from lender to lender. You can view 5 of the best non-prime jumbo lenders below. If you would like some assistance finding a lender, we can help match you with a lender.
Click here to get matched with a jumbo mortgage lender
Non-Prime Jumbo Lenders
Below are 5 of the top mortgage lenders that offer jumbo loans to eligible borrowers with a 680 credit score.
1 – Dream Home Financing
Dream Home Financing offers a non-prime jumbo program to borrowers with credit scores as low as 600.
Details of the Jumbo Program:
- Loan amounts are available up to $5,000,000.
- The minimum credit score is 600.
- The highest LTV allowed is 90%.
- The maximum DTI ratio is 50.49%.
- Available for purchases, rate/term refinances, and cash out refinancing.
- No waiting periods after a bankruptcy, foreclosure, or short sale.
- Foreign national / ITIN borrowers are eligible.
- You can use your assets instead of income to qualify (asset depletion).
- Self-employed borrowers can use their bank statements to qualify (bank statement loan).
- They offer these loans in the following states: National (all 50 states)
Click here to learn more about Dream Home Financing’s jumbo program
2 – First National Bank of America
First National Bank offers a non-prime jumbo program to borrowers with credit scores as low as 680.
Details of First National Bank’s Jumbo Program:
- Loan amounts are available up to $6,000,000.
- Credit scores as low as 640 are accepted.
- LTVs up to 75%.
- Available for purchases, rate/term refinances, and cash out refinancing.
- No waiting periods after a bankruptcy, foreclosure, or short sale.
- Foreign national / ITIN borrowers are eligible.
- You can use your assets instead of income to qualify (asset depletion).
- Self-employed borrowers can use their bank statements instead of tax returns to qualify (bank statement loans).
- Financing is available nationwide (minimum 30% down payment required in CA, IL, NY, and OH).
Click here to learn more about First National Bank’s jumbo program
3 – Acra Lending
Acra offers a non-prime jumbo program to borrowers with credit scores as low as 580.
Details of Acra’s Jumbo Program:
- Loan amounts are available up to $2,000,000.
- Credit scores as low as 580 are accepted.
- Up to a 85% LTV (with a 660 credit score).
- Full doc is required for this program (no bank statement or asset depletion).
- DTI ratios up to 50%.
- Available for purchases, rate/term refinances, and cash out refinancing.
- No waiting periods after a bankruptcy, foreclosure, or short sale.
- They offer these loans in the following states: AL, AZ, CA, CO, CT, DE, DC, FL, GA, IL, IN, IA, KS, KY, LA, MD, MI, MN, MS, NJ, NV, NC, OK, OH, OR, PA, SC, TN, TX, UT, VA, WA and WI.
Click here to learn more about Acra’s jumbo program
4 – Caliber Home Loans
Caliber Home Loans offers a non-prime jumbo program to borrowers with credit scores as low as 580 with their Fresh Start Program.
Details of Caliber’s Fresh Start Program:
- Loan amounts are available up to $1,000,000.
- Credit scores as low as 580 are accepted.
- Low down payment option.
- Available to finance the following types of properties: single family residences, 2-4 unit properties, condominiums, co-ops, or a home in a Planned Unit Development (PUD).
- Purchases, rate/term refinances, and cash out refinancing.
- No waiting periods after a bankruptcy, foreclosure, or short sale.
- They offer these loans in the following states: AL, AK, AZ, AR, CA, CO, CT, DE, DC, FL, GA, HI, ID, IL, IN, IA, KS, KT, LA, MA, MD, ME, MI, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, RI, SD, SC, TX, UT, VA, VT, WA, WV, WI, and WY.
Click here to learn more about Caliber’s Fresh Start Program
5 – Angel Oak Mortgage Services
Angel Oak offers a non-prime jumbo program to borrowers with credit scores as low as 600 with their Portfolio Select Program.
Details of Angel Oak’s Jumbo Program:
- Loan amounts are available up to $3,000,000.
- Credit scores as low as 600 are accepted.
- Up to a 90% LTV with no MI.
- DTI ratios up to 50%.
- Available for purchases, rate/term refinances, and cash out refinancing.
- A 2 year waiting period is required after a bankruptcy, foreclosure, or short sale.
- Foreign national / ITIN borrowers are eligible.
- You can use your assets instead of income to qualify (asset depletion).
- Self-employed borrowers may be eligible for a 1 year tax return option.
- They offer these loans in the following states: AL, AZ, CA, CO, CT, DE, DC, FL, GA, IL, IN, IA, KS, KY, LA, MD, MI, MN, MS, NJ, NV, NC, OK, OH, OR, PA, SC, TN, TX, UT, VA, WA and WI.
Click here to learn more about Angel Oak’s jumbo program
Need Help Finding a Jumbo Lender?
The above lenders are just some of the best options for borrowers with a 680 credit score looking for a jumbo loan. If you would you like some assistance finding a jumbo mortgage lender, we would be glad to help you. Please fill out this form, in order to be matched with a lender.