Home Buying in Phoenix>Question Details

Azhomeman, Home Buyer in Phoenix, AZ

Looking for FHA lender for 580-600 FICO, 3.5% down in Phoenix area

Asked by Azhomeman, Phoenix, AZ Sat Mar 31, 2012

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Andrea Gomez’s answer
You can get approved with under a 600 credit score for home loan. I have had clients with a 580 credit score get approved for an FHA loan just 3.5% down, The Lenders Network is the place to start for any questions loan related. If you need help to get your scores up they can help with that too.

Good Luck!
2 votes Thank Flag Link Sat Aug 10, 2013
The FHA requires borrowers to have a 580 credit score to ensure the loan. As long as you don't have large collection accounts, tax liens or other major derogatory accounts you should be able to get approved for an FHA loan. There are a few lenders that can still get loans done with low scores. I would suggest a site like The Lenders Network. They're a lender referral source that will match you with the best lenders that can help you. Good luck!
3 votes Thank Flag Link Wed Jun 11, 2014
Credit scores in that range should work! The lowest credit scores lenders like myself are able to do, is a score of 580. Since your scores are above 580, then you should have a chance when it comes to credit. Also there are other financial factors that would need to be analyzed include your income, expenses, assets, liabilities, debt, employment, down payment, as well as credit scores. If all of these factors are in place then you should be good to go. The best thing for you to do is to speak with a knowledgeable lender to see if you can get started on financing a new home. If you need additional assistance, feel free to reach out. Good luck!

Brian Nguyen
Sr. Mortgage Banker
NMLS # 659743
Phone: 949.667.2887
1 vote Thank Flag Link Wed Mar 12, 2014
Try the following lender he will tell you the trith and how to get your score up to the 640 needed to get a loan.
Brent Sullivan, CCIM
Home Owners Financial
Office 480-620-7300
1 vote Thank Flag Link Sun Apr 1, 2012
I have some lenders that might be of assistance to you.

Please call me so we can discuss what you are looking for so I can get you in touch with a couple out of the box lenders. They are amazing and can take a look at your credit report and sometimes find ways to increase your credit score to enable you to purchase in this market.

Debbie Nieman
Keller Williams Sonoran Living
1 vote Thank Flag Link Sun Apr 1, 2012
Here is a lender that will asist you in getting you score up and a great low rate
Brent C. Sullivan, CCIM
Senior Loan Officer
"The Mortgage Mind"
Homeowners Financial Group
16427 North Scottsdale Road
Suite 280
Scottsdale, Arizona 85254
Direct: 480-620-7300
Fax: 480-422-4499
Website: http://www.mortgagemind.com
E-mail: brent@mortgagemind.com
1 vote Thank Flag Link Sat Mar 31, 2012
Last I looked it lenders are requesting 640 FICO. However if you would like a lender that can guide you in obtaining that score with some council. I would strongley reccomend it.

Please contact me direct.

1 vote Thank Flag Link Sat Mar 31, 2012
The key point in your search is 3.5% down at those scores. We can do these loans. The bank I work does not have "Lender Overlays".

Do you have a minute for a quick call?

Please feel free to contact me if you have any further questions, I'd be glad to help.

All the best,

Roswell Moore, CMPS
Certified Mortgage Planner
480-422-5095 direct

We are a Direct Lender, Mortgage Bank where we originate, process, underwrite, fund, AND SERVICE our loans, in-house, with FHA (starting at a 580 score AND still only 3.5% down), FHA Streamline loans (NO minimum credit score, NO appraisal required) Go Green rehab loans, HomePath, Investor Friendly (10 financed properties), VA, USDA, Jumbo, Conventional, plus, we allow Escrow HoldBacks!
1 vote Thank Flag Link Sat Mar 31, 2012
If you need help finding a place let me know. Good luck not the pre-qual.
Flag Thu Jun 19, 2014
Here's a list of FHA Approved list of lenders in Phoenix that can help with your search
You can also try searching on homebuyerwise.com for FHA lenders all over Colorado and nearby areas.
0 votes Thank Flag Link Mon Jul 20, 2015
Feel free to give me a call on my cell and I can help you out. There are several further questions that would need to be asked before I could give you a solid answer but, yes - I do have a product that will allow a 580 mid FICO. Feel free to call me at 602-299-3838.


Michael Scott Longman
NMLS #839183

15300 N 90th St. #850
Scottsdale, AZ 85260

NMLS#141747 MB#0908760
0 votes Thank Flag Link Tue Jun 9, 2015
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