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Larry Burklow's Answers

Can you get a morgage with 650 credit and 5% down?
Hi James, It's possible to get a conventional at 5% down with a 650; by improving to 660 your rate/payments will be lower. Call Me
do you offer USDA Loans
Yes, at CMG Financial we offer USDA loans with a credit mid-score of 640.Please feel free to apply online at or call with questions.
Does a discover student loan count towards your debt ratio?
Hi Helen, Depends on the type of loan: VA/FHA = no if deferred 12 months past close date. USDA - yes it must be counted. FNMA/Freddie Mac counts it. Call me for more details.
Is it worth it to lock or should I hold off for a month or two?
Rates are low; no one can tell what the future holds. My recommendation to my clients right now is to lock. Need a longer lock? .. We can lock FHA and VA loans up to 180 days with new builds and up to 60 days on resales.
can i go FHA for buying a condo?
Yes you can, however the condo project must meet certain requirements.Contact me for more details.
Do any jumbo programs allow for less than 20% down?
I have a program that allows a min of 10% down on primary home Jumbo (up to $850,000 loan amount) and 15% down from $850,000 - $1MIL. Call 512-686-6878 or email me at Burklow, CMG Financial (NMLS#1022127)
If you have proof that you paid off the student loans then there shouldn't be an issue. You can contact me at

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