We will approve FHA borrowers down to a 600 mid score. If you'd like to discuss your clients details, please feel free to call me. I can let you know within a few minutes if they would meet our guidelines.
"The question might as well be:
"Client is 12 years old, can he get a co-signer?"
The answer would be:
It would make no difference, the borrower is still 12.
Yes, however unrelated individuals have to document evidence of a family-type, longstanding, and substantial relationship not arising out of the loan transaction.
Elva A. Wormley
Cobalt Financial Corporation
There are lenders that will do FHA loans with scores down to 500 with 10% and down to 580 with 3.5% down. Find one that will do the 3.5% and if your borrower has the income, they won't need a co-signer.