You may find a lender who lends FHA under 620, but you would have to put 10% down and have clean credit for last 12 mos with no lates. Or you can work on building your credit, and pay down your debt.
You don't need 10% down for a 600 credit score, you need 10% down for a sub 580 credit score. With a 600 you can put 3.5% down on an FHA loan and you should consult with the local Wells Fargo to see if you qualify. Keep in mind that credit score alone is not the only determining factor and even if your score qualifies, the reasons for the low score may still cause you to be denied. Apply and find out.
I use a lender American Financial that does FHA down to a 600 score. You need to present the best possible picture for the underwriter to approve your file. This will be a manual review. You need to also look at how much you have in assets and debt ratio. Rates are still very competitive at that score. Let me know if I can answer any more questions you have.
I assist borrowers in Georgia (and nationwide). PrimeLending received an exception from investors, which allows me to offer FHA mortgages for credit 600-640. 30-day closings available. Excellent rates, low fees, close on time.Jori Stern, Sr. Loan Officer, PrimeLending, A PlainsCapital Company. (877) 399-6539. http://www.primelendingdallas.com/fha-mortgage-credit-600
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