First time home buyers who are worried their credit might not be good enough to qualify for a home loan, we have a solution.
Most lenders will tell you that in order to get an FHA loan, you need a credit score of at least 620 to 640. That’s not the FHA’s rule. That’s the lender’s rule. In the mortgage business that’s referred to as an “overlay”. Overlays vary from lender to lender, so shop around and find a lender whose overlays match your credit profile.
As a direct lender, we are able to offer our exclusive FHA Low FICO Program to borrowers who have credit scores as low as 580. No credit score? No problem with our FHA Low FICO Program.
Enjoy all the benefits of FHA financing:
· Same 3.5 percent down payment
· Same traditional closing costs
· Same loan amounts
Please note that certain restrictions do apply, additional documentation is required and your interest rate might be slightly higher.
Don’t let bruised credit… or even no credit… prevent you from purchasing a home. We’re eliminating barriers, so you can realize the American Dream: owning a home of your very own.
We have helped countless first time home buyers, even those with low credit scores and they all have one thing in common, they contacted us.