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“FHA Loans with Low Credit Scores”

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Mortgage and Lending with Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 NMLS # 6869

“FHA Loans with Low Credit Scores”

 

Hi Joe, hope all is well with you!  I have a first time buyer loan that I would put in an FHA product with DTI at 48%.   He has money for down payment.   Our bank only does credit score of 680 with FHA and when I ran it in June he had a 644.  Does it sound like something you could do?

 

We can actually do credit scores down to 500, I’m not kidding. There are reasons why credit scores are that low and in many cases, folks don’t understand credit and we’ll coach them to improve scores.

 

We are also fortunate to have a number of lender that will do lower credit score borrowers, but our job is also to make sure the problems are correctable.

 

WHO ELSE DO YOU KNOW THAT NEEDS MY HELP?”

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Joe Petrowsky, NMLS #6869

Right Trac Financial Group, Inc. NMLS #2709

110 Main St.

Manchester, Ct. 06042

Office: 860 647-7701 x116

Fax: 860 647-8940

Cell: 860 836-9294

Email: joe@righttracfg.com

www.righttracfg.com

www.joepetrowsky.com

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Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.

Equal Housing Statement: We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing becuase of race, color, religion, sex, handicap, familial status, or national origin.

Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Joe. Bingo! Taking the time to make sure the credit problems are correctable is more important than funding the loan! Kudos to your line of thinking. Enjoy your day.

Sep 06, 2021 05:25 AM
Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

We need to start with the youth and stress how important good credit is.  Enjoy your Holiday, thanks again for the post.  Bill Salvatore

Sep 06, 2021 06:12 AM