That one is going to be extremely difficult. Loan amounts that low will generally not pass the requires State and Federal Predatory Lending Fee tests. Usually, the loan amount has to be at least in the low to mid $30's.
That credit score is also going to be big challenge as well. For a 580-639 FICO, he would need a verified 12 month on time rental history along with no derogatory credit items in the last 12+ months.
Rodney Mason, NMLS #151088
Sr Loan Officer
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) | HomePathÂ® | HomePathÂ® Renovation | HomeStyleÂ® Renovation | VA | USDA | GA Dream | Jumbo Financing... more