Home Buying in Philadelphia>Question Details

k_haynes7@co…, Home Buyer in Philadelphia, PA

Who will finance FHA with score below 640 these days.?

Asked by k_haynes7@comcast.net, Philadelphia, PA Tue Jan 29, 2013

Help the community by answering this question:


I just settled a sale in January 2013 with a buyer that had a middle score of 583. PHFA financing.
1 vote Thank Flag Link Tue Jan 29, 2013
You can reach me at 215-327-8104 so we can discuss this.
Kathy Hanigan
0 votes Thank Flag Link Thu Jan 31, 2013
Credit scores are only one threshold that must be met, they are solid numbers making them the most popular topic. They are not the final answer, the loan application is reviewed in its entirety. Don’t make the mistake of calling a loan officer and have them pull credit, ask a couple of questions about your income and then issue a pre-approval letter.
What you are trying to do is a lot more important than that and deserves your undivided attention. Gather up all of your support documents, have your Realtor introduce you to the loan officer they trust the most and meet with the LO to review everything, not just credit and a bunch of silly questions. WHAT??? Take off work to prequal for a mortgage? Are you crazy?

Ever hear of someone that was turned down for a mortgage AFTER they put a contract on a house and spent money on inspections, appraisals, etc.? Ask how they approached the prequal process. Whatever they tell you, do the opposite.

If you still aren’t convinced that I know what I am talking about, ask yourself a couple simple questions. How much do you earn an hour? How much do you plan to spend buying a home? Compare the risk of missing a couple hours of work vs messing up the home buying process.

Good luck,

Jim Simms
NMLS # 6395
Financing Kentucky One Home at a Time
Web Reference: http://jamessimms.com/
0 votes Thank Flag Link Tue Jan 29, 2013
If your middle credit score is 620 or above,you can be financed.
Please call me so we can discuss details.
Don Sherman-SRES
Century21 Advantage Gold-Castor
0 votes Thank Flag Link Tue Jan 29, 2013
I am in touch with a few lenders who will do a 620 score. Give me a call if you would like some details.

Carol Mccann RE/MAX Millennium
0 votes Thank Flag Link Tue Jan 29, 2013
Good Morning K Haynes, ....

I can think of at least 3 top guns in the business that will do under 640? feel free to call me + I can give you their contact info?

All the Best John + Sheri Curci RE/MAX 215-757-2889
0 votes Thank Flag Link Tue Jan 29, 2013
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