I read something yesterday that suggested Realtors and Lenders not "waste their time" with home buyers with less then a 720 credit score! Whoa, I truly hope that this is NOT the advice you are getting and certainly not the advice that you are passing on to your clients. Yes, its true that Sub-Prime loans are not what they used to be, and a lot of buyers that we could have qualified in the past, would not qualify today. But there are still loans out there available to buyers with less then perfect credit to buy with zero money down. I know that our office here in Nashville, TN is STILL doing the majority of our purchase loans for ZERO DOWN. FHA loans are NOT score driven and allow a buyer to finance 97% of their purchase price. With a 3% Down Payment Assistance Program and seller paying the closing costs, those clients can still do a no money down purchase!
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