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middle score of 600 can I still get FHA for home purchase in PA?

by cinnamonr28 from Pittsburgh, Pennsylvania. Feb 26th 2013 Reply


Sales Manager Matthew Boyce (bestlender)
#8 ranked lender in New Jersey - 19 contributions

First of all you're 40 points away from qualifying for the 'normal FHA' program with 'normal' rates so I would do a credit analysis to see if we can pay down some accounts, etc. to get the scores up. A lot of times I can raise my buyers scores immediately so we can get you the best rates. Worst case is we can do this through our 'special' FHA program where we can lend down to a 580 FICO. The difference is the rate, but either way we can get it done. It sounds like the person previous to me is a broker who will send this to a lender to review. We ARE the lender and I can get you an answer on whether we can do it or not right away so you don't waste your time. Email me anytime at mboyce@annie-mac.comThanks!

Feb 26th 2013
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Michael Izzi (m.izzi@prospectmortgage.com)
#43 ranked lender in Pennsylvania - 2 contributions

Hello,Yes, I have a lender that can process loans as low as 560. Feel free to reach out to meinfo@hillbrookfinancial.com

Feb 26th 2013
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Keith Zielaskowski (KeithZ)
#77 ranked lender in Pennsylvania - 5 contributions

Hi "Cinnamonr28" ... While most lenders will require a score of 640 for an FHA loan, we have an FHA CHOICE program that allows us to do a score of 600. Our in-house CHOICE expert would be happy to discuss the program with you and examine your particular situation. You may email her at any time if you'd like to explore this option. Her email address is RLDavidson@PrimeRes.com. Thank you.

Feb 26th 2013
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Keith Zielaskowski (KeithZ)
#77 ranked lender in Pennsylvania - 5 contributions

We are a lender, not a broker - this is our in-house program and we keep and service the loans in this program. Same rate as a regular FHA loan.

Feb 26th 2013
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Peter Botros (PeterBotros)
#71 ranked lender in New York - 895 contributions

We are direct lenders here in PA. Email me your details and i may be able to help you. PBotros@OmegaLoans.net

Feb 26th 2013
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Dave Metsker (DaveMetsker)
#37 ranked lender in Oregon - 2,317 contributions

Contact one of the Lender411 loan sources that have responded to you.

Feb 26th 2013
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Carlo Sanchez (MortgageLendingPro)
#0 ranked lender in Utah - 1,163 contributions

For sure. You will be limited on some lenders and the rate may be a little higher but it can be done. Contact one of the Lender411 loan officers that have stated they can do your loan and they will help you.

Feb 26th 2013
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Chad Bradford (Cwbradford)
#0 ranked lender in Arkansas - 9 contributions

The question is should you, not can you. There are lenders out there that will give you sub par product with a FICO of 600. Work on getting your score up 40 points. This will most likely ensure a better loan for you in the long run.

Feb 26th 2013
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Peter Savino (855411LEND)
#100 ranked lender in New Jersey - 332 contributions

yes you can get a FHA loan, and I can help , We are a National Bank and close many of these low fico loans. Please contact me for more information, www.HOMEMORTGAGEXPERT.com thank you Peter 855 411 LEND

Feb 26th 2013
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,875 contributions

Officially FHA does allow you to purchase a home with a 600 score. With that said, most lenders have an overlay on top of the FHA rule which says they will not lend with a score less than 640. If you hunt around, you'll get a lot of no's before you get a yes. I suggest you work on improving your score to over 640 before attempting to buy. www.FHA-Streamline-Refinance-MN.com

Feb 27th 2013
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Tyler Whyburn (OklahomaMortgage)
#21 ranked lender in Oklahoma - 24 contributions

There are companies out there that will offer FHA loans for credit scores under 640, however I believe you will have more options when it comes to rate/cost/company if you were to get your score to a 640 or better. Any knowledgeable loan officer should be able to either advise you on the steps to take to get to a 640, or provide you resources to help.

Feb 27th 2013
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Chris Davenport (todaylending)
#20 ranked lender in Oklahoma - 36 contributions

I agree if your Native American I'd check out the 184k program, VA Loan, USDA Rural Development as well.

Feb 27th 2013
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Joe Shamie (Joe Shamie)
#4 ranked lender in New Jersey - 1,412 contributions

We will require 640 or above.

Feb 27th 2013
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Andrew Alfonso (CashCow)
#43 ranked lender in Florida - 271 contributions

Lowest score allowable on FHA today is about 580. So dont listen to this 40 points away mess. Call your local broker and go from there. Andrew

Feb 27th 2013
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