Financing in Dallas>Question Details

Julio Ferrari, Home Buyer in Dallas, TX

Need a lender for a 600 credit score with 30% DOWN

Asked by Julio Ferrari, Dallas, TX Tue Mar 18, 2014

I'm selling a property in Dallas. The buyer currently lives in Austin, has a low 600's credit score, but has about 30% down payment. The property appraises at $232K, I'm selling it at $175K as is. No major rehab needed, just about $15K cosmetic. The house is 3,200 sq ft, used to rent at $2,350. ARV could be up to $280K from BPO.

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We have FHA that low.... Are the sellers willing to do the repairs FHA will require?
Or
Conventional starts at 620
Maybe we can get the score up real quick.


Tom Burris
Mortgage Banker
http://www.dallasloanguy.com/
(214) 763-4629 cell/text/nights/weekends(Really!!)
tburris@servicefirstmtg.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
.
9yr Veteran navigating Mortgages for wonderful clients.
1 vote Thank Flag Link Wed Mar 19, 2014
Have a lender that can maybe help.

contact me.
0 votes Thank Flag Link Wed Feb 18, 2015
We may be able to do this loan with our Non Prime Program with 25% down and a 600 fico score. The program goes down to a 500 score which would require 35% down. If interested feel free to contact me to discuss.




John Broussard
Account Executive
Newbridge Home Loans
713-777-9996 Ext 103
john@newbridgehomeloans.com
http://www.newbridgehomeloans.com
0 votes Thank Flag Link Tue Jul 15, 2014
Unless there are more issues with the property or the borrower has credit issues besides their score it sounds doable. Many lenders these days I work with can go below a 580 credit score depending on the circumstances.

Call me if you would like to discuss further.

_____________________________________________________
Don Groff | REALTORĀ® & Mortgage Broker
Austin Real Estate Pros & 360 Lending Group
o 512.669.5599 | m 512.633.4157 | listings@dongroff.com
websites: http://www.AustinListed.com | http://www.360LendingGroup.com
Web Reference: http://www.austinlisted.com
0 votes Thank Flag Link Wed Mar 19, 2014
Here is a lender that can get the job done. I used them in a similar deal they are based out of Houston but can do deals in Dallas. Call Oscar at
Goldquest Group (832) 274-3061 cell or office (713) 621-6466.

I got a deal done for a business owner no W2s. Only about 2 years in business.

Chris Hutchinson, REALTOR -The Michael Group,Broker
0 votes Thank Flag Link Wed Mar 19, 2014
Hummm, the Buyer should be trying to obtain financing. I would put this on them. If this house is such a good deal, you shouldn't have any trouble listing it for sale with a Realtor and getting it SOLD.
http://www.tcrdallas.com
0 votes Thank Flag Link Tue Mar 18, 2014
only way to do this loan is FHA.. Can not od it Conventional
0 votes Thank Flag Link Tue Mar 18, 2014
I have multiple lenders that can help you with that. This will allow you to shop and compare. Send me an email and I will send their contact info.



Jtoddrealty@gmail.com
Web Reference: http://ToddHomesForSale.com
0 votes Thank Flag Link Tue Mar 18, 2014
I recommend Lowell Sterling, he is great at what he does!
0 votes Thank Flag Link Tue Mar 18, 2014
May need to speak to private money lenders.
0 votes Thank Flag Link Tue Mar 18, 2014
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