I can help you find a lender who can offer FHA loans with a 580 credit score with 3.5% down. There is also have a lender that offers a new FHA program 99.5% LTV - so just .5% down with a 580 score. Obviously since the FHA loan limit in Katy is $271k so you would need 20% down and seller concessions for some closing costs unless you can dig into a 401k. I can take a look at your situation and credit to see if you can increase your scores to the 620 mark to see if conventional is an option. If we cannot get you to a 620 score and you want to buy ASAP then FHA with a 580 score definitely an option to purchase your new home right away!
That is what our company specializes in, helping people find a lender that can help and walking you through the process start to finish. I am as good friends with one of the best real estate agents in Houston, I can refer you to her to help find the perfect home.
The Lenders Network
Toll Free: 855.841.HOME (4663
Champions Real Estate Group
I have great local lenders that I use that you can talk to. Send me an email so I can send you the list.
RE/MAX Real Estate Associates
In the event that you decide to improve your credit so that you can secure a lower interest, please contact me, I can put you in touch with a credit repair team that not only charges a very low fee but it will be refunded at the time of closing. I work all the areas but will recommend the Woodlands due to the economy growth & all the amenities in the area. I wish you the very best!
Give me a call or email me and I can forward the contact information.
REALM Real Estate Professionals.
Anna Maria Durr, NMLS 266699
CodeMark Financial, LLC
4500 Highway 6, Sugar Land, TX 77478
There are lenders who will work with individuals such as yourself, but be prepared to pay a higher interest rate ... it was a bit over 5% last time I looked. You can save yourself a bit of money if you were to bump your FICO mid-score to 640 ... but it's your call. You'll likely hear from several lenders here, several of whom will be able to help. Best of luck ...