"borrower has 1 credit card rated 9 months and another only rated 5 months but has 3 credit scores over 640."
Should not be an issue, FHA has no minimum credit line requirement. I have lenders with no overlays.
"Or a borrower that has a couple credit cards from 5 years ago that have been closed for 4 years and no new credit but a FICO over 580."
Zero active trade lines would be a problem. At least 1 would be necessary. If they had no credit score it would be easier than having the 580.
"Borrowers that can't prove rental history that have no alternative credit."
Rental history is not generally required. Why do they need alternative credit? Is this the same borrower with the 580 and no trade lines or a different borrower?
I would be happy to help you with that! Here in Bakersfield we are still in a limited supply of inventory which helps with the timing. . The Westchester Riveria area has held it's value for many years. Value is hard to determine based on the level of updating that has been done. If you would like to contact me directly I can send you information and a better approximate value. Thank you for your questions, Athena... more
The best thing for you to do is to just shop around and check out different lenders to see if this can be done for you. If you find a lender that cannot do this, they will likely lead you to a lender that can. Lenders are well connected and would be glad to help. I would be happy to speak with you to help get you started on this type of loan. I would like to hear more from you to see if I can help you, if not I would be glad to lead you to someone that can. So if you have any further questions or if you would like a loan, feel free to contact me! Good Luck! Brian Nguyen Sr. Mortgage Banker NMLS # 659743 Phone: 949.667.2887 firstname.lastname@example.org... more
Hi Fidel, Since everyone defines "ranch" differently it would be important to be more specific with your requirements. If you are looking for land to grow crops, LoopNet is a good place to start. If you are looking for homes with some acreage, the local MLS and an agent is your best bet. It is best to meet with an agent and discuss your needs and wants and let them help you with your search. Since a "ranch" could entail lots of other issues....such as a well, water rights, shared ingress and egress, easement issues, leases, etc. you really need someone who is familiar with all these possibilities and can help make sure you are not left unprotected. I hope this helps you and if you have any other questions, please feel free to call me. Have a great day....Jan DeTomaso Keller Williams Realtor... more