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There has been chatter on the board about some lenders dropping FHA minimum score requirements from 640 to 620 in the last few months, but does anyone know which lenders are now accepting down to 620? Any nationwide lenders that operate in Ohio?
Thanks!
Bump... anyone?
First Guarantee Mortgage is a national lender and goes down as low as 580. I am using them for my loan.
This company?? http://www.fgmc.com/
There are a number of lenders that will do FHA down to 620...even in Ohio
@MBOhio2 wrote:This company?? http://www.fgmc.com/
Yes, this is the company.
FHA is 580
lenders add their own guidelines and some will go that low.
rates might vary. and underwriting will be tougher.
if you have time to get the scores up a bit you will have a smother transaction
[Lenders] will go to 620 but generally 640 fico.
Provided everything goes well tomorrow morning and I get keys in my hand, I'm going to have a very long post regarding closing through Wells Fargo with a 621 fico posted tomorrow. Stay tuned.
I am working with Franklin American, they only required a mid score of 620.