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Financing in Tuscaloosa : Real Estate Advice

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  • Home Buying27
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Activity 4
Tue Mar 13, 2012
Houston asked:
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Sun Aug 7, 2011
answered:
For FHA financing, the minimun down payment it 3.5%. If the borrower is receiving a gift, it must be from a family member or someone with a demonstrated relationship to the borrower.

At Prospect Mortgage, our minimum credit score for FHA financing is currently 580+. The borrower may receive a gift for the entire 3.5%.

Regards,
Rodney Mason, NMLS #151088
Sr Loan Officer
Prospect Mortgage
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
rodney.mason@prospectmtg.com
Apply Online at http://www.rodneymason.com
Licensed in Alabama & Georgia
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Fri Aug 5, 2011
Heather Speed answered:
When you decide you are ready to make a purchase, make sure you contact an agent that is a REALTOR(R) and not just a salesperson. REALTORS are members of the National Association of REALTORS(R) & bound by a higher set of standard called the Code of Ethics.

Additionally, Buyer representation at my office is a FREE service & we are able to show you any home that is listed, not just the ones listed by my company. We all work together!

If I can help, please do not hesitate to contact me!


My goal is to make every transaction a smooth transaction!
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Thu Jan 21, 2010
Anna M Brocco answered:
FHA requires a score of 620 and 3.5% down--if you haven't already, visit with any qualified loan officer (s) and see exactly what your budget can handle--check that credit score again and keep in mind the officer may have some good tips on to best improve your score in the fastest time. ... more
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