They also have portfolio product called COMMUNITYWORKS that allows financing up to 97% LTV with only 620 credit score (for owner occupied property only).
Vivienda Miami Real Estate Group
Web Reference: http://fhamortgageinfo.com/
Private Financing is available to those with a poor credit score that will not qualify for a Conventional or FHA loan. Typically a Private Lender requires a 50% down-payment.
Best of Luck,
Here are the facts.
You may obtain an FHA mortgage without any credit score at all. If you find any experienced mortgage broker they should be able to explain this to you.
Also, FHA allows for scores as low as 500. I'm not guessing or just throwing a number out there, it's taken directly from FHA guidelines. While I readily admit that this is harder to find, it doesn't mean it's not available and not mentioning it when asked a specific question about the MINIMUM credit score would be incorrect.
The most common are:
FHA - 203B (Standard FHA) - 580 UP TO 96.5%; AND 540 UP TO 90% LTV
FHA - 203K (Renovation Loan) - 620 UP TO 125% LTV
CONVENTIONAL - >80% LTV - 660
CONVENTIONAL - 80%
HomePath Renovation - 620 < 80% LTV & 660 > 80%
HARP REFINANCE - No minimum
Currently there are discussions at the regulatory level, about the validity of the existence of Government Loans with low credit scores requirements, and about the existence of community based programs. For the sake of the consumer with infome limitations, I hope these programs do not dissappear.
Hi My name is Jesse, it looks like I can help you go ahead and contact me. Just to tell you a bit about what we do here is some great information.
GreenBox Loans, Inc. is a leader in the residential lending market, with over 70 years of combined experience. GreenBox Loans, Inc. was founded on responsible and transparent lending with a strong conscience for the environment and commitment to service. We have the right tools to make the loan process simple and seamless.
We have the best loan programs to meet each individual situation. All of our loan consultants are trained and licensed, so you will always get a great rate with the service you deserve. We know that you have many options that is why we are dedicated to stand out above the rest. We are committed to our communities financial health.
SIVA (Stated Income, Verified Assets)
1 Day out of foreclosure
FHA (Starting at 500 Fico)
VA (Starting at 500 Fico)
DU Refi Plus
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Jesse B Lucero
Give me that Loan Lucero!!
Greenbox Loans, Inc.
Corporate Office is located at
3250 Wilshire Boulevard, Suite # 1900,
Los Angeles, CA 90010
CA Department of Real Estate License # 01300944 • NMLS # 333659
Licensed Mortgage Banker -
AL, AZ, AR, CA, CT, DE, FL, GA, ID, IN, KS, ME, MI, NC, ND, OH, OK, OR, TN, TX, WA & WI
States to be opened shortly:
AK, HI, LA, MA, NH, NJ, NM, NV, PA & VA.
LIST OF ALL MY PROGRAMS FOUND AT http://www.slideshare.net/jblucero702
LIKE MY PAGE http://www.facebook.com/jessewholesale
Program guidelines are subject to change without prior notice. Certain restrictions may apply. Some loans arranged through third parties. First mortgages only. Not all products and/or programs are available in all States.
If you have any questions or concerns e-mail: jesse.b.lucero@GreenboxLoans.Com
Please feel free to contact me for further information: 561-271-1611
Of course if you have 620 or better we can do automated Underwriting which simplifies the process
Pls call me for details, we do loans anywhere in Florida
Mortgage Loan Officer, NMLS # 519971
407 924 2759