homebuying: Homebuying Hope for Lower Credit Scores - 03/14/11 05:53 AM
Wells Fargo is providing FHA mortgages to borrowers with credit scores as low as 500.  Most of the major banks have been requiring credit scores of at least 650 in some cases. At the National Association of Realtors annual conference in New Orleans, FHA Cmmissioner David Stevens stated these policies were out of sync with the FHA and artificially restrained home sales by as much as 20%.
Under Wells Fargo new policy, they will accept borrowers with credit scores of 500-579 if those borrowers can make a down payment of at least 10% - and gifted funds or down payment assistance … (1 comments)

 
Ann Gioe, CRP, GMS, Central and Southern Indiana Real Estate (Berkshire Hathaway HomeServices Indiana Realty)

Ann Gioe, CRP, GMS

Central and Southern Indiana Real Estate

Indianapolis, IN

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Berkshire Hathaway HomeServices Indiana Realty

Address: 3801 E. 82nd St, Indianapolis, IN, 46240

Office: (317) 913-2803

Mobile: (317) 372-9989

Resource center of information for people moving into our Indiana service areas - and even long time residents!


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