Financing in Oxnard>Question Details

Jth, Home Buyer in Oxnard, CA

Is there anyone who will lend with a 603 mid score and 5 - 10% down?

Asked by Jth, Oxnard, CA Thu Sep 30, 2010

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Yes, currently we can go as low as a 600 on a FHA loan with 3.5% down. Please contact me if you wish to discuss this in more detail.
Web Reference: http://www.umboc.com
0 votes Thank Flag Link Sat Oct 2, 2010
There ARE some lender out there that will lender below 620, however you usually can't have any outstanding or recent collections in that case.
Another option for you might be Rapid Rescore. Talk to a local mrotgage broker, they might be able to have you pay off one of your cards, or open a new one and use rapid rescore to update your credit report in order to raise your score to the minimum of 620.

Elena Ollick
Amerivest Realty
Faith Home Loans
239-206-4500
eo@oceanhomesrealty.com
Latest Post: Naples Luxury Home on Fire
http://www.andrewollick.com/realestateblog
0 votes Thank Flag Link Sat Oct 2, 2010
Yes I have a contact here is Ventura who can help you out. Contact me for additional information
0 votes Thank Flag Link Thu Sep 30, 2010
Some yes, it will depend on the property in question, price, ect. Anna Brocco's comment,. ----->" if your credit needs improvement, your loan officer can suggest great ways to improve it in the fastest time--then go from there." <----- Is great advice.

Contact me if you wish for further details.

gil yanez
0 votes Thank Flag Link Thu Sep 30, 2010
This will be very difficult. Most lenders just raised their minimum FICOs to 640. There may be an alternative program available depending on where you live. I can do some research for you. Let me know.
(858)848-LOAN
0 votes Thank Flag Link Thu Sep 30, 2010
Not knowing your overall finances--If you haven't done so yet, do visit with any qualified loan officer(s), see if you qualify, how much, and have your credit score checked again as their scoring is often different--if your credit needs improvement, your loan officer can suggest great ways to improve it in the fastest time--then go from there.
0 votes Thank Flag Link Thu Sep 30, 2010
You may find an FHA lender on conventional programs available as PMI is needed and that limit is 680? Not sure where to look most are at 620 - B of A just raised their minimum on FHA to 640.
0 votes Thank Flag Link Thu Sep 30, 2010
Yes, if you have a 600 I have a source for FHA with 3.5% down.
Web Reference: http://WeFixRates.Com
0 votes Thank Flag Link Thu Sep 30, 2010
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