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FHA with 630 credit score TX?

by keith329 from Jermyn, Texas. Apr 22nd 2016 Reply


William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,726 contributions

More info needed, but there are sources for financing with a 630 mid score.. but the entire loan profile would need to be analyzed to know for sure.. you could have a 750 credit score, yet with certain credit deficiencies, you still might be denied.. so until a qualified loan professional can look at the "Whole Picture" no one here can say for sure.. The best advice I can give you is to contact a LOCAL mortgage broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347

Apr 22nd 2016
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Jesse Langston (jlangston@efastfunding.com)
#192 ranked lender in Texas - 17 contributions

Efast Funding is located in Texas and we offer FHA loans down to a 580 credit score with $0 lender fees. If you will contact me, I can get you preapproved and send you a Lenders Estimate within 2 hours usually. Thanks!

Apr 22nd 2016
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Mary Papageorge (MaryPapageorge)
#95 ranked lender in Texas - 48 contributions

Yes, we can actually go down to a 580, if needed. The minimum down payment is 3.50%, but we do have restrictions on the back ratio (which means your total gross income divided by all of your monthly debt, including the new mortgage payment). I can also assist you with increasing your credit score, so we can get you a better rate; since rates are based off of scores and the type of loans. I'd be happy to assist you - I lend all over the State of Texas. Feel free to call me at 713-569-0025 - Mary

Apr 22nd 2016
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