I am a local broker and may be able to help you. We work with lenders that will go as low as a 580 score. Please call or email me to get started.
I look forward to working with you.
Smart Mortgage Centers
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Most consider an FHA mortgage to be a 'non-conforming' mortgage. If you are concerned, or have been told, that you do not qualify for a conforming mortgage, seeking an approval for an FHA loan should most likely be your next step. Today, an FHA loan will allow you to put down as little as 3.5% of the purchase price. An FHA loan will also have a little more lenient credit criteria.
In Illinois, you may also be able to take advantage of the IHDA program (or, Illinois Housing Development Authority program) that will allow you to put down as little as 1% of the purchase price.
There are several non-conforming financing options available to buyers today. Many of which are widely used and well understood by competent mortgage originators. If you would like to be referred to some excellent mortgage originators to talk to, please feel free to contact me.
I hope this was helpful.