I am looking for my first home in WPB area, I am post BK 3 years, I have done all the things to get back on track w/ my credit. Paying bills on

Asked by my time, Atlanta, GA Fri Feb 24, 2012

time, good rental history, good stable income, and 3% for FHA down payment. I've done all the credit things, but I can seem to get all three bureaus at 600, middle is 597, though I have to say, each month the score improve. I see all these great deals just passing me by. I just want to by my own first home, Is there anyone out there to help?

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Bob Brubaker, Agent, Lake Worth, FL
Sun Feb 26, 2012
My Time- In looking over your prospects for an" FHA Loan "you might want to look at.
what is really behind products branded as such. Different lenders have
different standards and requirements for their FHA " insured " Loan Product.
In theory FHA can insure Loans to borrowers with considerably less than 600. FHA
criteria for the issuance of their insurance is not "credit score driven" They allow
a number of compensating factors to be considerered in evaluating "credit worthyness".
Credit Score issues surface with individual lender's company "overlays".
In selecting a lender make sure they are approved to originate FHA Loans and have
the underwriting experience and willingness to lend effectively with added flexibility.
The lender you are looking for will want to examine a number of factors in addition
to a credit score to support your application. Get an "approved lender " they can
they can help! Ssee what FHA says too! at Hud.gov Much success!

Web Reference:  http://pbc-realcam.com
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