Versus bodies-backed funds, antique financing could be harder so you can qualify for, however it primarily depends on the borrower character. Not everyone qualifies to possess an excellent FHA, USDA, or Virtual assistant financing. Even if you would be eligible for those funds, he’s strict venue and you will possessions criteria the house alone might perhaps not satisfy. Therefore, neither traditional or non-old-fashioned money is actually more challenging to be eligible for because they’re for every single designed getting a specific types of borrower.
If, for some reason, we dictate a normal financing is not the right fit for you, you may still be eligible for yet another real estate loan
In general, providing you has a credit score of 620 and can be your ability to repay the borrowed funds, providing recognized having a normal loan isn’t as tricky because it may sound. Loan providers is influence what you can do to repay playing with traditional or solution steps. For instance, we can fool around with from pay stubs and you will W-2s in order to lender comments and you can tax statements to ensure you earn enough to pay back the loan monthly.
To apply for a traditional loan which have Griffin Capital, what you need to carry out is actually call us or complete our very own online software. The entire procedure of coping with Griffin Investment works out it: