Can You Get a Jumbo Loan with a 646 Credit Score?

If you have a 646 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 646 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 – First National Bank of America

First National Bank offers a non-prime jumbo program to borrowers with credit scores as low as 646.

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 – 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

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 646 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.