Im a first time buyer, Credit is between 677 and 701, but only 1 year of work history, is there any way or loop hole where I can still get the loan?

Asked by Bentlee10, Glasgow, KY Fri Apr 15, 2011

Matt Brown
In the process of getting a first time buyers fha or rural housing loan, I have done bid on a house, and lost 400 dollars because the apraisal didnt go through, now the lender has just now noticed that I only have 1 year work history, this loan process has been going on for over a month now and they are JUST NOW POINTING OUT MY 1 YEAR WORK HISTORY, now it seems impossible for me to get a loan, I dont have a co-signer but I pay all my bills and am a 23 year old responsible hard working father

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, ,
Sat Dec 29, 2012
Kentucky Rural Housing Service (RHS) program Mortgage

Program Descriptions RHS Fixed Rate 2 6/15/2011

The loan must meet the minimum FICO requirement listed in the following grids: Loans must be manually underwritten. Second Homes and Investment properties are not eligible. LTV/CLTV/HCLTV/FICO Primary Residence –

Min Fico 640 Ranges FICO Type Units *LTV CLTV HCLTV Salaried Self-Employed Purchase & Rate/Term Refinance 1 103.5% 100% NA 640 640 1 101% 100% NA 640 640

* Purchase: Maximum LTV is 103.5% of appraised value when guarantee fee is financed. Refinance: Maximum LTV is 101% of appraised value when guarantee fee is financed. Rate & Term refinancing is available on current RHS loans only.
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Dwayne Pierce, Agent, Glasgow, KY
Sun Jul 29, 2012
Hi Matt did you ever get a loan? If not giv me a call I can help.
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, ,
Fri Apr 15, 2011

It is very possible that you can get financing. Go to my website at and see if you qualify.

I am a licensed loan officer in the State of Kentucky NMLS #57916
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