Home Buying in Brundidge>Question Details

J_sims26, Home Buyer in Brundidge, AL

is t possible to get a home loan if your credit is less than perfect?

Asked by J_sims26, Brundidge, AL Sun Jun 10, 2012

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For an FHA mortgage, most lenders require a 640+ credit score for the last 2-3 years now. Prospect Mortgage is one of the few direct lenders to offer an FHA 580-639 FICO loan program. Credit profile is a major factor in a mortgage approval. Generally, there should be no late payments, new collections accounts/charge-offs/liens/judgments in the last 12 months. HUD does require that all open collection accounts must be paid in full if their cumulative balances exceed $1,000.

Getting Pre-Qualified is the only way for you to find out your options. To get Pre-Qualified you purchase, you can submit your request online at http://www.rodneymason.com.

Rodney Mason, NMLS #151088
Sr Loan Officer
Prospect Mortgage
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
Apply Online at http://www.rodneymason.com
Licensed in Alabama & Georgia

Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePath® | HomePath® Renovation | HomeStyle Renovation | VA | USDA | GA Dream | Jumbo Financing
0 votes Thank Flag Link Mon Jun 11, 2012
It depends on "how much less than perfect'! I have a great lender that has loans for those under the magic 620 credit score and if you are improving weekly, they may be able to help sooner than later. However for the vast majority of lenders 620 is the magic number. Also there are many credit repair services that can help you get "On Track". Let me know if we may help!
0 votes Thank Flag Link Sun Jun 10, 2012
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