Wells Fargo to Accept FHA Mortgages with Credit Scores Under 600
In the Dayton, Ohio area Real Living Mortgage (a division of Wells Fargo Bank) is offering loans with a minimum 500 credit score! Contact Christina today for more details at Christina.Asad@RealLiving.com or by cell or text message at 937-205-4741.
Great info provided by a NJ based Realtor!
Wells Fargo announced that effective January 15, 2011, they now accept Federal Housing Administration (FHA) mortgages for borrowers with credit scores as low as 500. For borrowers with credit scores 500-579 a 10 percent down payment is required and the down payment may not be a gift or be part of a down payment assistance program. For borrowers with credit scores 580-599 a 5 percent down payment is required and the down payment may not be a gift or be part of a down payment assistance program. Borrowers with a credit score of 600 or higher are required to have a 3.5 percent down payment and a gift is acceptable. For all borrowers, seller concessions are limited to 3 percent.Anthony J. Gonzalez
This Experience is about you...
Broker Associate - Better Homes Realty
Circle of Excellence Sales Award - 2009
Facebook | Anthony J. Gonzalez
Direct: 908-565-0457
Fax: 732-807-3946
Comments(2)