“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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