Home Buying in San Antonio>Question Details

Beverlycox, Home Buyer in San Antonio, TX

Daughter wants to buy my house but has low 610 credit score with truck repo 3 yrs. ago. With my gift of equity, are there lenders who would finance?

Asked by Beverlycox, San Antonio, TX Sun Mar 24, 2013

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Jason C Campbell’s answer
The quick answer is YES.

I have an amazing lender that can make that work with a score all the way down to a 580. It's nowhere near as hard as people make it out to be.

In fact... simply go here: http://www.DHIMortgage.com/Kasey-Hampton - fill out the online pre-approval. It's quick, easy, and free. Kasey is by far the most aggressive lender in Texas with the lowest rates in the State. You will thank me for this one later :)

Jason C Campbell
Platinum Top 50 Finalist
Option One Real Estate
Web: http://www.SAHomeExpert.com
0 votes Thank Flag Link Mon Mar 25, 2013
Hi Beverly,

I have seen your question a number of times. The first thing is to get with a lender who may be able to help you. Another route you may need to go is an owner finance type of situation. You would need to contact a Real Estate Attorney who can help you do this the correct way.

In my experience, any buyer needs at least a 640 credit score to get a loan.

Good luck to you and your daughter.

Brenda Mullen
Realtror(R), ABR
RE/MAX Access
0 votes Thank Flag Link Mon Mar 25, 2013
Good evening Beverly,

I recommend my clients work with a specialized team of mortgage professionals who are sincere in educating customers @ Legacy Mutual Mortgage. My contact is Jamie Bozeman. She will take you both by the hand and discuss all the steps to make this work. Her contact information is below. Please tell her you where referred by REALTOR Al Tillman of Keller Williams-Heritage. If I can be of any further assistance please reach me @ cell phone # 210-954-4985.

Jamie Bozeman
Legacy Mutual Mortgage
2526 N. Loop 1604 W.
Suite 150
San Antonio, TX. 78248
(404)825-7591 Cell
(210)492-4900 ext. 2062
(210)695-5515 Fax
NMLS #990755
0 votes Thank Flag Link Sun Mar 24, 2013
Hi Beverly,

The standard credit score is a 640 but we do have FHA and VA loans down to a 600 credit score. Due to the lower score, there maybe additional items. Please call me at 210-789-2870 to discuss.

Thank you,
Jon Nichols
Nichols Home Lending
0 votes Thank Flag Link Sun Mar 24, 2013
Hello Beverly,

Nowadays a 640 fico score is needed to get a standard loan. The truck repo should not be an issue. I work with a great lender that can help.

Give me a call at 210 698 2050 for more details

0 votes Thank Flag Link Sun Mar 24, 2013
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