which lender is really doing a FHA 530 credit score?
530: Minimum credit score required to qualify for an FHA loan and satisfy FHA Credit Requirementso530-579: Credit scores in this range will qualify for a minimum down payment of 10%o580: Minimum credit score required to qualify for a minimum down payment of 3.5%o620: Accepted by some mortgage lenderso640: Typical minimum Additional details of your question here by pressl_856_729 from San Francisco, California. Mar 18th 2013
William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions
First Mortgage Corporation... https://firstmortgage.lpx.com/v40/BuildPage.aspx?Page=101 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. 480-287-5714 WilliamAcres.com
Michael Bardy (LendingPro)
#24 ranked lender in Ohio - 72 contributions
Very Few!Typically when you can find a lender to approve you at this score you will be required to make a much larger down payment a much more in depth underwriting process and you will certainly be charged a much higher interest rate.On paper and in the guidelines of some lenders this loan can be done, but in reality a very small percentage of loan files with a sub 580 fico score get approved. My opinion is to work on repairing your credit and rebuilding your score closer to the 600 mark. Your chance of approval will be much greater and you will certainly have a more competitive interest rate.
Michelle Curtis Loan Originator NMLS 401173 (MichelleCurtisLO)
#77 ranked lender in Florida - 2,245 contributions
I wasn't aware anyone would still do anything below a 580 Good luck
Peter Savino (855411LEND)
#99 ranked lender in New Jersey - 332 contributions
Good Luck finding that
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