My New Blog

 

We have recently rolled out our under 620 credit score program for FHA mortgages.  The min credit score is a 580.  Majority of banks and lenders have a min credit score of 640, so this is an unbelievable program.  Of course since this is such an aggressive program there are addition guidelines.  Here they are:

 

Min 580 credit score

Min down payment of 10%

10 months of mortgage payments as reserves

No Gift Funds are allowed

The cost(fees) of this loan will higher then a normal FHA loan

If self Employed, must be for 3yrs

Max debt to Income Ratio is 41%

 

Keep in mind this is only for FHA loans with credit scores of 580-619.  Over 620 these addition guidelines do not exist.   The credit history must be respectable, meaning it can not be all bad accounts.  Please call or email me with any questions.   Another Great Mortgage Program from Dave Your Mortgage Guy

 

 

 

David Krichmar 

Mortgage Banker/Broker

Schmidt Mortgage Company

Office:832-689-6012

David.Krichmar@gmail.com

www.DaveYourMortgageGuy.com

For More Mortgage Info Follow me at  Dave's Blog

 

If you are looking for a mortgage in Fort Bend County, Sugar Land, Houston, Katy, Harris County, Brazoria County, Pearland, The Woodlands, Montgomery County or anywhere in Texas I am your GUY!

 

Posted by David Krichmar on December 15th, 2010 12:19 PMPost a Comment (0)
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If you are looking for a FHA, VA, USDA, Homepath, Conventional, Jumbo, Construction, FHA 203k mortgage in Fort Bend County, Sugar Land, Houston, Katy, Harris County, Brazoria County, Pearland, Bellaire, West University, The Woodlands, Kingwood, Friendswood, Galveston, Clear Lake, Fulshear, Tomball, Spring, Conroe, Montgomery County or anywhere in Texas I am your GUY!


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