All Forum Posts by: Ryan Pearsn

Thank you! I will check into those.

Confirmed that Freedom Mortgage can do a 550 score (middle of 3 scores) manually underwritten FHA as long as no bankruptcies or other major issues. not the solution but very close.

Confirmed that Freedom Mortgage can do a 550 score (middle of 3 scores) manually underwritten FHA as long as no bankruptcies or other major issues.

still not the solution but very close.

Need help finding/lead on a lender that allows FICO in low 500's (510 now). I have heard based on overlays, these lenders exist (maybe even FHA vs. hard money). 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!

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! 

Hello,

Hoping to get some direction on potential options for creative financing:

Opportunity to buy a duplex (future opp to be converted to quad and run as Airbnb possibly)

- Sale price $320k (negotiable)
- $420k appraised value 

- 25% down
- Personal Income is $100k 

- personal credit score is poor

- Have current LLC with no credit history

- 5 years+ rental history at $3400/mo <5% vacancy

- Minneapolis, Mn 55417

Needing to get creative on financing options - willing to take on less than ideal terms non conforming etc :

- DSCR sounds appealing - ratio would be solid

- Hard money?

Any thoughts?

Thanks in advance!

Ryan