If you're looking up a loan officer on here to work with, anyone you're interested in, look through their profile and some of their Q&A as well to see how knowledgeable they are and go with your gut. Some people prefer local regardless of expertise, others will go wherever the expertise on their desired loan is, others will just work with whoever meets some other unknown criteria. If you're a first-time buyer, don't focus on your rate because you'll go crazy watching the markets everyday (if you're inclined to do so), just make sure you find the right loan officer and a good Realtor and the rest will fall into place.
Best of luck to you.
FHA loans can be done with credit scores as low as 620 under their FHA all encompassing guidelines.
FHA loans with such score, enough income to qualify the borrower, and considering the remaining parameters to qualify you for a loan, all fall into place, you should be a-ok.
However, without more specifics and circumstances of your specific situation, it would be impossible for me, or any mortgage company to give you a firm yes or no answer on whether or not they can and will do your loan.
I am working this weekend, and throughout this week. i will be able to chedule some time to speak with you, if you want to go over the specifics, and the options available to your specific file, you are more than welcome to email or call me. I can walk you through the variations between conventional loans, the minimum down on Conv. VS. FHA loans, and other programs that might be suitable for your loan, payment, equity and occupancy needs.
818-917-0929 (my cell phone)
RPM Mortgage - Manhattan Beach, CA
Gail Mercedes Cole
Neal Grusky Estates
Real Estate and Financing
10940 Wilshire Blvd. Suite 1600,
LA, CA 90024 | Office:
| Fax: (800) 652-7604
Some lenders will accommodate the 620 score, but all lenders will want to know why the score is at that level. Find a loan professional who will run your pre-approval free of charge and figure out if there are any items on the credit report that you'll need to address before you can fully approved for the loan.
Best of luck and let me know if I can help.
Contact me if you need an experienced loan agent. I wll send you his contact information.