Posted on: 17th Feb, 2010 01:27 pm
Is there anyone out there who can do a loan for a customer with a credit score of 600 in Pa. Can't go FHA, not sure if there is any possibilities for this deal
Yes, there are loan options for scores as low as 600. Also FHA options with scores that low or lower. However, usually the down payment requirement for FHA with scores that low is in the neighborhood of 10%
Aside from the credit being below 620, is there anything keeping you from that route. As stated above, there are programs which will allow for credit below the 620 mark. Here are basic parameters:
580+ Credit: 3.5% Down Payment
540-579 Credit: 10% Down Payment
**All FHA programs do require you to document your income for the last 2 years.
580+ Credit: 3.5% Down Payment
540-579 Credit: 10% Down Payment
**All FHA programs do require you to document your income for the last 2 years.
