Posted on: 10th Sep, 2009 09:11 am
I am looking for a lender that will work with a sub 620 fha score.
you will get FHA as score is 620.
But do u have parmanent job?
But do u have parmanent job?
Where is the property located?
I have a couple of lenders who will consider loans with a FICO below 620, with strong compensating factors. I cannot state enough these loans are all case by case and are based solely on the underwriters discretion. I hope this helps...
I have a couple of lenders who will consider loans with a FICO below 620, with strong compensating factors. I cannot state enough these loans are all case by case and are based solely on the underwriters discretion. I hope this helps...
Local lenders are definately helpful.
generally, if a loan can be put through automated underwriting and receive findings of "approve/eligible," with other compensating factors, then the score isn't all that relevant - but this is only for some lenders. many lenders are sticking with the 620 minimum. investors are risk-averse and don't wish to take too many chances, especially in these times.
yeah local lenders helps you in this case you want to contact local lender ,
regards
regards
hi,
you have parmanent job or bussnes ?
if yes then you can get loan easily ,hope you can understand and talk with lender that will also suggest you the right way.
you have parmanent job or bussnes ?
if yes then you can get loan easily ,hope you can understand and talk with lender that will also suggest you the right way.
Credit Score Requirement for FHA loans is 550
but for all those with scores between 550 and 619, keep in mind that doesn't mean you'll get approved. there are far more factors involved that will cause a loan to be approved or denied, not the least of which is automated underwriting.