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Updated over 1 year ago on . Most recent reply
Lenders allowing FHA with FICO in 500’s w/ 10% down?
Need help finding/lead on FHA lender that allows FICO in low 500's (510 now). I have heard based on overlays, these lenders exist. Specific property located in Minnesota, under contract this week.
Other detail:
- $350k purchase price and have 10% down
- Personal income of $100k+
- DTI is 29%
- if manually underwritten: easy story to tell: was impacted by tech layoffs, credit score sunk, reemployed now in same role/industry.
Thanks in advance for any leads!
Most Popular Reply
#2 Classifieds Contributor
- Real Estate Broker
- Minneapolis, MN
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#2 Classifieds Contributor
- Real Estate Broker
- Minneapolis, MN
@Ryan Pearsn can't name drop in post here but I know the head for Rocket Mortg. for State of MN, if anyone knows Jef.... er "he" would know.
But that is not an easy-lift so I hope all reading understand anyone getting such approval is an anomaly, not the rule.
- James Hamling
