As mentioned there are 100% options for USDA or veteran eligible homebuyers. As well FHA will allow gifted funds for the down payment of 3.5%. I can work with a 600 credit score and in some cases a 580 credit score. However, whether or not you can qualify with these scores depends on other credit, income, and asset factors.
I also have pretty good success increasing my clients scores through the process even if they do already qualify. Often this results in a better inetrest rate for them by the time we go to settlement.
I'm available to help you at your convenience if you wish.
I can do a full underwriting approval ahead of time if need be and I also offer credit score improvement programs for free while we work on your mortgage. Everyone likes to raise their score!
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Robert L. Hanson
Gladewater National Bank
First Time Homebuyer Specialist
Direct: 240-752-7549 Cell: 301-651-7822
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