Which are the cons of Quicken Financing?
- 15- and you may 29-year fixed-rates and you will YOURgage mortgage loans require a credit rating from 620 otherwise high, a down payment from 3% or even more, and you will a great DTI ratio regarding 50% or less.
- Adjustable-rate mortgages require a credit rating regarding 620 or maybe more, a deposit of five% or even more, and you can a DTI ratio off 50% otherwise faster.
- Jumbo money wanted a credit score regarding 680 or even more, a down-payment with a minimum of 10%, and an excellent DTI ratio regarding forty-five% otherwise faster.
- FHA money need a credit rating out-of 580 or higher, a downpayment out-of step 3.5% or higher, and you can a beneficial DTI ratio out of 50% otherwise smaller.
- Va financing not one of them a downpayment, however you will you desire a credit rating of 620 or even more, a certificate regarding qualification, and you will an excellent DTI proportion regarding sixty% or less. (suite…)