See programs below, then contact me to talk about how to minimize payments and reduce out of pocket costs.
1) 100% LTV- VA / (VA Jumbo @ lower ltv)
2) 100% LTV- USDA/12 mo. into Chapter 13 BK…OK Too
3) 99% LTV- FHA / (FHA to 580 score @ lower ltv)
4) 97% LTV- No monthly MI-No FHA 1.75% Fee
5) 95% LTV- CONDO
6) 90% LTV- No PMI -2nd Home
7) 90% LTV- JUMBO
8) 85% LTV- No PMI - Super Jumbo
9) 80% LTV- Invest./Rental
10) 75% LTV- Foreign Nationals
--------STATED INCOME ALT up to Super Jumbo-----------
11) 80% LTV- FIX n’ FLIP Invest. Prop.
12) 75% LTV- Foreign Nationals
13) 75% CLTV- Short Sale, BK, Foreclosure Forgiveness
14) 70% LTV- Soft and Hard Money
15) LOT/VACANT LAND LOANS
16) COMMERCIAL PROGRAMS-available nationwide
Go to: WWW.PRO-OPTION.COM or call 888-662-4404
Pro Option Mortgage/ Florida
Prior Service U.S. Marine Corps
It is possible to obtain financing with a 630 credit score through some lenders... Most often, lenders look for at least a 640 score,..
As for the first time home buyer, I would speak with a lender about what programs you qualify for... USDA is designated for rural development, so it will depend on the location of the property you are looking at buying...
If you are not in a major hurry to purchase, it would be good to pull your current credit report to see how you can increase your score... A reputable lender will help you with this as well.,. The benefits of increasing your score prior to purchasing the home will greatly outweigh getting a good deal on it...... more
It is not always just the score, but with a 613 you should be able to get a loan. Give me a call and I can set you up with some great lender references who can help you through the process.
Brian J Miller
Keller Williams South Tampa
Peggy, the ding is close to a foreclosure; however, their rebound will be much sooner. They will actually be able to buy another home within 1 to 3 years where it is 5 years with a foreclosure. The short sale is looked upon much more favorably because it shows responsibility on the part of the homeowner.... more