When I purchased my first home I went conventional with 3.5% down and because my FICO scores were good there was no PMI.

I was thinking that this may be God sent considering the funding I am short for one of the deals I currently have under contract or should I not waste my time or points to my FICO score on this offer.

If you're looking for a cheaper version with less properties, I've heard good things about RentRedi which is $9 a month if you choose the year plan. 

When I bought my last couple of deals in 2006/7, thinking that whatever problems were about to happen wouldn't be quite as dramatic as they turned out to be, little did I know I could have spent that money where I live now in South Carolina and weathered a much calmer version of the storm.Bottom line, $250k goes a lot further in just about ANYWHERE other than San Fransisco!!  

They have 500-600 credit scores due to lack of credit as opposed to bad credit.

.--------------------------- Yes....That is right as per FNMA --  but some commercial lenders will go to 80% as NOT written to FNMA guidelines.Type up a generic application...pull your credit online with all 3 scores...then fax it to two or 3 or four lenders...with these instructions.1) They are NOT TO pull the credit again as your trimerge credit is included  - so no more inquiries and then they do not know who else is looking at the deal2) They have then job history and debts --- and property address so there is NO REASON they cannot give you a very accurate good faith and the property address will allow them to pull a title profile and an online AVM appraisal ---  so they know 100% what they are getting into .Because I serve three states and many times drive to see clients and properties  I do this process upfront on all my deals - so cutting the conversation very short with a bad deal.

He may be short of cash to close and needs a couple of months more paychecks in the bank...or maybe his credit score is not where it needs to be and he is doing some credit repair work to get it there.  

Our credit scores are over 740 and we have an LLC that we would like to use for our investing ventures. 

Not every borrower is making 100K+ a year, has 100K in the bank and has a credit score of 800.

If so, have you been doing anything to boost your credit score?