i meet all the requirements for a HARP loan but my mid. credit score is below 620. will this automatically deny my loan?

Others here might say no, but I have done a TON of HARP loans, and I have yet to have anyone with a score below 670 approved.. it has nothing to do with whether a lender will allow a 620 score or not.. it has everything to do with the Automated Underwriting system (DU/LP) to approve a borrower with a low score.. it's the first thing necessary to get your loan to go through.. if you don't get DU/LP approval, you don't get the loan.. Period..I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Hello, Have you tried reaching out to your current servicing lender? They may offer a Refi Plus (Same Servicer) version of the HARP. They may allow more expanded guidelines. DU Refi Plus is the version referred to below and is different because it all depends on the automated decision. Any other lender/servicer will need to run DU/LP and this may be an issue..depending on investor overlays.Hope this helps. If you have any questions...Please feel free to reach out to me.Ivan Diazidiaz@lhfinancial.com415-271-7740 direct

It is unlikely you'll get it done with a 620 score. I get calls everyday with people saying "I've looked at the rules and I qualify for HARP." If I could actually close all those who say that, I'd be a very wealthy guy. Unfortunately, that doesn't happen. The simple reason is your are reading Fannie or Freddie guidelines for loans they MIGHT buy from lenders. Fannie and Freddie don't do loans. They buy completed loans from lenders well after closing. First you have to actually get a lender to do the loan, and most lenders have considerably higher guideline rules than what Fannie and Freddie say they might buy.

Most lenders I deal with want a 620 mid score.

As William has said, it all hinges on the approval of an automated underwriting system. It will be hard, but if it doesnt cost you anything, give it a shot.