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600 credit score FHA First time home purchase

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gunnar27
New Member

600 credit score FHA First time home purchase

I had an approve/eligible with a 620+ score.  I had a few collections that were being disputed.  After removing the dispute my score is down in the 600-609 range.  Rapid rescore is still trying to remove a collection that has been paid. 

 

I do have 4 collections that were reported in 2010 and 2011.

 

My DTI would be questionable depending on how they look at the collections.  It would be around the 45%-50% DTI. 


Based on the pre-approval we now have a signed purchase agreement with a financing contingency and need to get this done. 

 

Any recommendation for an FHA broker that can get this done fast? 

 

I know there will be more questions as I haven't listed every detail.  The purchase is 308K, my income is around $10K/month. 

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ShanetheMortgageMan
Super Contributor

Re: 600 credit score FHA First time home purchase

Why can't you go with your current lender?  Or do they require a 620 score?  Do you not have faith in the rapid rescore process getting your score where you need it to be?

 

Did they re-run automated underwriting with the 600-609 scores?  If so, did it come back as an Approve/Eligible or was it a Refer?

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