Home Buying in Opelika>Question Details

spiveylillian, Home Buyer in Opelika, AL

Is there any lender who will lend with little to no money down and equifax 582 and Transunion 657?

Asked by spiveylillian, Opelika, AL Fri Apr 19, 2013

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Yes...3.5% down for FHA..........................
0 votes Thank Flag Link Fri Apr 19, 2013
With those credit scores, you are going to encounter several challenges. For an FHA mortgage, most lenders require a 640+ credit score for the last 2-3 years now.

Prospect Mortgage is one of the few direct lenders to offer an FHA 580-639 FICO loan program. Credit profile is a major factor in a mortgage approval. Generally, there should be no late payments, new collections accounts/charge-offs/liens/judgments in the last 12 months. It is required that all open collection accounts must be paid in full if their cumulative balances exceed $1,000.

The 3.5% minimum down payment can be from the borrowers own funds or it can be gifted from a family member. Two months of reserves for the PITI (Principal + Interest + Taxes + Insurance) payment + HOA Dues will be required. This must be from the borrower’s own funds and not a gift.


If you are looking to purchase a property, working with a knowledgeable and seasoned loan officer is critical in today's market. Getting Pre-Qualified is the only way for you to find out your mortgage options. To get Pre-Qualified for your purchase, you can submit your request online at http://www.rodneymason.com.

Regards,
Rodney Mason, NMLS #151088
Sr Loan Officer
Prospect Mortgage
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
rodney.mason@prospectmtg.com
Apply Online at http://www.rodneymason.com
Licensed in Alabama & Georgia with over a decade of mortgage lending experience.

Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePath® | HomePath® Renovation | HomeStyle® Renovation | VA | USDA | GA Dream | Jumbo Financing.
0 votes Thank Flag Link Fri Apr 19, 2013
Not only can I help you get a great mortgage loan, we also have the technology to ensure you can qualify with the healthiest credit file possible. Did you know your credit file may contain errors or other issues that are holding down your credit score? Instead of simply qualifying based on your current credit score, we’ll use our credit proofreading software to give your credit file a checkup and ensure your credit score is as strong as it can be.

Our technology can analyze how you use your credit cards and suggest slight changes that will strengthen your credit score. We can even detect and remove any errors in your credit file that have been working against your credit score. Our easy to follow, step by step plans can improve your credit health in as fast as 72 hours. Since healthier credit profiles often result in higher credit scores - we may be able to help you qualify for better rates and lower down payments. So before you apply for a mortgage loan, let us ensure you have the healthiest credit profile possible.

Get the facts about home mortgages from the experts at ENG Lending. Learn about different types of home mortgage loans and what to expect during the mortgage application process. Plus, find information about the current mortgage market and which mortgage myths you should never believe.
Take 3 minutes to view the attached video and make a decision as to whether or not you need my help http://www.availcoach.com/avail/

Lowell Sterling
Mortgage Banker
NMLS# 968898
LSterling@englending.com
16800 N. Dallas Pkwy, Suite 290 | Dallas, TX 75248
Office: 972-646-2411 | Cell: 214-418-7022 | Fax: 214-614-4637
Bank of England /dba ENG Lending: NMLS# 418481
0 votes Thank Flag Link Fri Apr 19, 2013
I have been working with Lexington Law, but the process is rather slow. Some things have been removed, but not all things.
Flag Fri Apr 19, 2013
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