Answers (9)
- Bob Phillips, "BobPhillipsRE"
- Contributions:777
Tammy, you need to be looking for a mortgage person in PA, where you're from, not CA. Good luck in finding help.
- tammyarndt
- Contributions:1
Im in desperate need of a mortgage loan in the next 30 days. Ive been renting a home for 18 mths and pay 1500 a mth. 1000 out of that is going towrds the purchase of the house so we'll have close to 20,000 for a down payment. Between my husband and I before taxes we bring home a lil over 100,000 a yr but our credit scores our high 500 or low 600 does anyone think you can help? Our landlord refuses to renew this lease she wants to sell it.
- Bob Phillips, "BobPhillipsRE"
- Contributions:777
Real Estate Bluebird - it sounds as though you are questioning, or disagreeing with my statement?
My statement clearly said that the FICO had to be 580+, for my lender to provide an FHA loan of up to $417,000., and a score of 600+ would be needed for a higher loan, up to the maximum of $729,750.
If you disagree with those numbers, cut&paste the website I provided, and give my lender a call or an email.
My lender, is not someone to have to be "wary" of, having successfully done business, in South Orange County, like myself, for well over 30 years.
Perhaps I misunderstood your post - If so, I apologize.
My statement clearly said that the FICO had to be 580+, for my lender to provide an FHA loan of up to $417,000., and a score of 600+ would be needed for a higher loan, up to the maximum of $729,750.
If you disagree with those numbers, cut&paste the website I provided, and give my lender a call or an email.
My lender, is not someone to have to be "wary" of, having successfully done business, in South Orange County, like myself, for well over 30 years.
Perhaps I misunderstood your post - If so, I apologize.
- wetdawgs
- Contributions:39658
Can you qualify on your income alone? How's your credit score?
- Real Estate blueBird
- Contributions:18
Lindsey is correct, most lenders will not allow under 620 on FHA loans at this time. What may be a viable option is have a reputable lender look at your husbands credit report and see what it would take to bump that score a little. It could be as simple as paying down a credit card or two to under 50% of the available credit limit.
I would be wary of loan officers saying they can "absolutely" do an FHA loan under 580 - it would be an exception to get it done.
I would be wary of loan officers saying they can "absolutely" do an FHA loan under 580 - it would be an exception to get it done.
- Bob Phillips, "BobPhillipsRE"
- Contributions:777
Hello,
Yes, absolutely! FHA loans of up to $417,000. require a FICO score of at least 580, and loans between $417,000. and $729,750. require a FICO score of at least 600.
My favorite lender is close to you, in Laguna Niguel, and those are numbers he quoted to me 2 days ago.
Check out his website: http://KevinBudde.com
Good luck in your search!
Yes, absolutely! FHA loans of up to $417,000. require a FICO score of at least 580, and loans between $417,000. and $729,750. require a FICO score of at least 600.
My favorite lender is close to you, in Laguna Niguel, and those are numbers he quoted to me 2 days ago.
Check out his website: http://KevinBudde.com
Good luck in your search!
- Karen Parsons Fiddler, "Karen Fiddler"
- Contributions:189
Hi,
The short answer is "maybe"....I have a client right now with a FICO of 604 and we just got loan approval. There are also "kiddie condo" loans which allows a parent or other relative to effectively co-sign for the loan. So there are some options.
If you would like the name and number of my lender..shoot me an email and I'll get it for you.
Karen
The short answer is "maybe"....I have a client right now with a FICO of 604 and we just got loan approval. There are also "kiddie condo" loans which allows a parent or other relative to effectively co-sign for the loan. So there are some options.
If you would like the name and number of my lender..shoot me an email and I'll get it for you.
Karen
- Lindsey M. Bishop
- Contributions:379
Can I get a loan if husband's credit is below 620?
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