FHA Loans Now Available With Credit Scores As Low As 500
GREAT NEWS! In an effort to help increase home ownership opportunities to those currently underserved, we are introducing a new program. Our FHA AFFORDABLE PROGRAM was designed to help credit worthy borrowers who have been unable to obtain financing due to their credit scores.
Under this program, eligible borrowers can obtain affordable mortgage financing with scores AS LOW AS 500.
Some of the necessary common sense requirements are:
1) Debt to Income Ratio's must be LOW (31/43 MAX) making the payments AFFORDABLE!!!
2) Borrowers must show a propensity to save money and/or pay down debt
3) Borrowers must have a solid 2 year work history with 6 Months minimum on current job
Exceptions to this rule can be made on recent college graduates with a job that is related to their degree
4) Borrowers must have their own down payments of 3.5% ( NO GIFTS ALLOWED)
5) NO INCREASE in current Rent/Mortgage payments
6) Owner occupant borrowers only
For more information on this dynamic new loan program call or email me today
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