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FHA loans in California LOW FICO 500 to 599 OK
FHA loan news as of 1/19/11 serving Los Angeles County. HomeBuyers & Condo Buyers in Burbank Toluca Lake Valley Village Studio City Sherman Oaks and all nearby areas of San Fernando Valley, contact LUPE SOTO REO Agent Team in Los Angeles County for more information about FHA loan and your dream home or condo with low down . Please call for more information.
Wells Fargo and FHA are now accepting fico scores as low as 500! That's correct-500! Please see details below. I look forward to hearing from you.
Minimum loan score and LTV allowed for Purchase transactions:
Loan score lower than 500 = NOT allowed
Loan score 500 - 579 allowed with maximum 90% LTV and the additional requirements listed below. This means 10% down will be required. For example a sales price of $150,000, 10% is $15,000
Loan score 580 - 599 allowed with maximum 95% LTV and the additional requirements listed below. This means 5% down. For example a sales price of $150,000, 5% is $7,500
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