Financing in 36535>Question Details

Bob Lohr, Other/Just Looking in

I see that there are a couple of Loan , now willing to loan to poor credit (580-639). One is Vanguard......

Asked by Bob Lohr, Wed Sep 12, 2012

Are they respected Loan Instution? Or is this something other than what they are offering?

Thank you

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Mary McNair’s answer
Another source available to you to help you get your credit where it needs to be so that you are able to get financing is Baldwin Housing Alliance. They can help you through the process of reviewing your credit, helping you know what to do to repair your credit, and to then give you the documents you need to verify to a lender that you are ready, willing and able to get a loan, including the USDA programs as long as the home you are wanting to buy fits the criteria.

Call Bobby Lockett, Jr., at 251-279-0461 to set up an appointment. You can also visit their website at This is a free service from a non-profit organization.

Once you're in a position to rock and roll, give me a call ... I enjoy the hunt and helping people reach their home ownership goals.
0 votes Thank Flag Link Wed Sep 12, 2012
I am not familiar with a company by that name. For an FHA mortgage, most lenders require a 640+ credit score for the last 2-3 years now. Prospect Mortgage is one of the few direct lenders to offer an FHA 580-639 FICO loan program. Credit profile is a major factor in a mortgage approval. Generally, there should be no late payments, new collections accounts/charge-offs/liens/judgments in the last 12 months. HUD does require that all open collection accounts must be paid in full if their cumulative balances exceed $1,000.

Getting Pre-Qualified is the only way for you to find out your options. To get Pre-Qualified you purchase, you can submit your request online at

Rodney Mason, NMLS #151088
Sr Loan Officer
Prospect Mortgage
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
Apply Online at
Licensed in Alabama & Georgia

Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePath® | HomePath® Renovation | HomeStyle® Renovation | VA | USDA | GA Dream | Jumbo Financing
0 votes Thank Flag Link Wed Sep 12, 2012
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