Can You Get a Jumbo Loan with a 609 Credit Score?

If you have a 609 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% (the higher the LTV, the lower the maximum loan amount will be).
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 4 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 4 of the top mortgage lenders that offer jumbo loans to borrowers with a 609 credit score.

1 – Citadel Servicing

Citadel Servicing offers a non-prime jumbo program to borrowers with credit scores as low as 600.

Details of Citadel Servicing’s 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: AL, AR, AZ, CA, CO, DC, DE, FL, GA, ID, IL, IN, KS, KY, LA, MD, ME, MI, MN, MT, NC, NE, NH, NJ, NV, OK, OR, PA, SC, TN, TX, UT, VA, VT, WA, WI, and WY.

Click here to learn more about Citadel Servicing’s jumbo program

2 – Sprout Mortgage

Sprout Mortgage offers a non-prime jumbo program to borrowers with credit scores as low as 580.

Details of Sprout Mortgage’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 Sprout’s jumbo program

3 – 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

4 – 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 609 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.