Do you have a Dallas area lender that will work with a 612 midscore with 20-25% down and little debt?

Asked by Kim Nwachukwu, Irving, TX Fri Aug 17, 2012

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Kim Nwachukwu’s answer
Kim Nwachukwu, Agent, Irving, TX
Tue Aug 21, 2012
Thanks for all of your wonderful suggestions and useful info. Some of it I knew already, other parts I didn't - the lending landscape at times seems to be a moving target so I rarely know exactly what to advise those that are just under the current 620 benchmark. Enjoy your day!
0 votes
Tommy Burris, Mortgage Broker Or Lender, Baton Rouge, LA
Mon Aug 20, 2012
To add.....

The client will get a little better deal if they can get to 620. And better yet at 640.

Many of my clients have come to me with 600 - 620 scores and we worked to get the scores up
0 votes
Tommy Burris, Mortgage Broker Or Lender, Baton Rouge, LA
Mon Aug 20, 2012
Certainly Joe.

Nothing fancy here.... No secret sauce.
Bottom line, these loans are underwritten to FHA's guidelines.... Not guidelines by some bank who adds on their own guidelines(overlays). We service them ourselves.

This explains what happens to FHA loans after funding.
http://www.ginniemae.gov/about/about.asp?section=about




Tom Burris
Mortgage Banker
DallasLoanGuy.com
(214) 763-4629 cell/text/nights/weekends(Really!!)
tomburris@dallasloanguy.com
Lending all across the entire Great State of Texas!!
NMLS# 335055
Search Dallas area MLS for FREE. No registration => http://www.ntreisinnovia.net/cgi-ntr/BR_login?0501134
0 votes
Carmen Brode…, Agent, Scottsdale, AZ
Mon Aug 20, 2012
Sounds like an ideal client for ANY lender.
0 votes
Tommy Burris, Mortgage Broker Or Lender, Baton Rouge, LA
Mon Aug 20, 2012
We have a standard program for 600 - 610. 10% down FHA
Give me a call and I can tell you about it.

Our 620+ score program is 3.5%

Both programs are direct sale loans with no lender guideline overlays

Tom Burris
Mortgage Banker
DallasLoanGuy.com
(214) 763-4629 cell/text/nights/weekends(Really!!)
tomburris@dallasloanguy.com
Lending all across the entire Great State of Texas!!
NMLS# 335055
Search Dallas area MLS for FREE. No registration => http://www.ntreisinnovia.net/cgi-ntr/BR_login?0501134
0 votes
Kenneth "Ken…, Agent, Dallas, TX
Fri Aug 17, 2012
Hi Kim,

I have used Jenny and she is wonderful. Give her a shout.

Jenny Phung
President, North Dallas Mortgage, LLC
Mortgage Loan Officer
NMLS# 338197
1400 Preston Rd., Suite 400
Plano, TX 75093
Ph: 972-731-0165
Fx: 972-852-7952

Blessings,
Kenny
Turtle Creek Realty
0 votes
Dixon Wong, Agent, Dallas, TX
Fri Aug 17, 2012
Great talking to you Kim!

Good luck with your client ;)

Dixon
Realtor
JP and Associate
http://www.findyourtexashome.com
0 votes
Mark Rhoton, , Allen, TX
Fri Aug 17, 2012
Kim, YES, I have a very good lender who can help you AND he is local, right here in my RE/MAX office actually....:-) He is a mortgage broker and really is good. Email me directly or call me & I will tell you all about him.
Sincerely, Mark Rhoton
RE/MAX Town & Country 972-740-2495 cell MarkRhoton@remax.net is my email.
0 votes
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