mortgage: Credit score fiasco!!!!! - 10/25/09 02:55 AM
FHA is tightening their lending requirements and very shortly raising down payments from 3.5 to 5 percent. Minimum FICO scores have gone from 580-620 and buyers are feeling the crunch. Credit card companies are lowering credit limits thus creating higher debt to limit ratios which in turn lowers FICO scores. Seems like a huge issue that interest rates and available balances can be controlled by credit score while a customer has an active account, and even if they pay on time. For example, a client with a 5k line of credit with a balance of 25oo is at a 50% debt … (6 comments)

mortgage: Buyers get a move on!!!!!!!!! - 10/25/09 02:42 AM

mortgage: FHA increases limits to $346,250 - 02/25/09 01:46 PM
FHA has increased its mortgage financing limit to $346250 for the 28 counties surrounding the metro Atlanta are.  This represents an increase of approx. $25,000.  A 580 could do the trick.  Give me a call for a free pre approval.

mortgage: FHA financing with a 580 score - 01/23/09 12:57 PM
Buyers in todays market are having a difficult time finding conventional financing with a low down payment.  FHA is becoming THE option for todays buyers who may have had credit issues in the past.  Buyers must contribute 3.5% towards their downpayment, but that can come from family.  FHA is not credit driven, but buyers have to prove that they can make payments.  Buyers can recieve up to 6% in closing costs, and close within 45 days.  If I can be of any further assistance, call me at 4048432500.


Joseph Griffin MBA, CBB, CCB

Digging for Real Estate Gold in Atlanta Today!!!

Conyers, GA

More about me…

Keller Williams Atlanta Metro East

Address: 2304 Benji Blvd, Conyers, GA, 30013

Office: (678) 487-1600

Mobile: (770) 827-7251

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