Down payment only 3.5% of the purchase price.
Gifts from family or Grants for down payment assistance and closing costs OK!
Seller can credit buyers up to 6% of sales price towards buyers costs.
No reserves or future payments in account required.
FHA regulated closing costs.
FLORIDA FHA MORTGAGE LOANS ARE EASY TO QUALIFY FOR BECAUSE YOU CAN:
Purchase a Florida home 12 months after a chapter 13 Bankruptcy
Purchase a Florida 24 months after a chapter 7 Bankruptcy.
FHA will allow a FHA mortgage 3 years after a Foreclosure.
Minimum FICO credit score of 580 required for 96.5% financing.
Bad credit Florida FHA mortgage approvals minimum FICO credit score of 530 required for 90 FHA financing.
No Credit Score Florida mortgage loans & No Trade Line Florida FHA home loans.
If you don't qualify for a loan yet - there are credit repair options that depending on your circumstance you could be in a position to qualify for a loan within a few months to a year.
With a decent down payment there are usually some private lending options that lend based on equity position in a home rather than on your credit. interest rates on these loan typically have higher interest rates - 8-15%.
Also some sellers are willing to carry the loan (be the lender) and then you just pay them as if they were the bank, those types of sellers are less common and the terms of the loan are negotiated as part of the purchase of the property.
Just a few points for you to consider.
â€¢ 580 Platform
â€¢ we also recognize alternative trade lines
â€¢ less overlays
â€¢ in house funding, processing and underwriting
â€¢ 620 credit on conventional
â€¢ 47% DTI ratio
â€¢ 3.5% down payment
â€¢ close the average loan for Refi /new purchase in 21 days
R.H. Lending, Inc.
6209 Colleyville BLVD
Colleyville, TX 76034
Branch NMLS: 965158
For an immediate Pre-Qualification of potential buyers, please see LINK below to fill out an application via our Secure Website:
NOTE: Once a barrower/client is pre-approved, The letter is only good for 60 days
Now days exist several types of financing all depends on how good or bad is your credit score, if a bank is unable to qualify you there's still a chance to get a private investor loan or homeowners financing, everything is negotiable! good luck
Bustamante Real Estate
(214) 763-4629 cell/text/nights/weekends(Really!!)
Lending all across the entire Great State of Texas!!
It all depends on your credit score and what's in your credit file. The best thing to do is to talk to a mortgage person (a mortgage broker or your bank/credit union) to see where you stand and go from there. If there are issues with your credit, they may be able to help guide you with repairing your credit over time.
Best of luck.
Rich Bennett, Realtor in San Francisco
Zephyr Real Estate
Your question is sincere and open. I have had many buyers fix their credit wonderfully in 30 to 60 days - the time it takes to close on a sale. I have had many buyers get into a home with owner financing and a reasonable interest rate. I have had investors take your 15% if all other items add up to a reasonable risk. I am sure you would not want to share all your personal information with the world but I would be more than happy to talk to you if you will contact me. Nothing is impossible so go for it!!