I need help! We've been rebuilding our credit for almost 2 years now, and we had everything squared away to finally buy a house. We have an accepted offer and went to the bank to get a loan. Last time I checked DH's credit, both FICOs were in the high 600s. We were planning on going FHA because we don't have much for a down payment. Well, when the bank pulled our credit...SURPRISE!!! There was a collection that was put on recently from a CA that works with our hospital. We were so angry, because we were working so hard at rebuilding our credit, and now we find out there's a - RECENT - collection on our CRs. I called the OC, as well as the CA, and after about 2 days of pure confusion on their end, the OC realized that some of our payments were allocated incorrectly. WHAT!? Ok, so I understand that people make mistakes, but it's now going to take time to get it straightened out, and we're set to close on August 5, which is already cutting it close for FHA. We're still working with the OC and CA to get the TL removed, but I'm very fearful that it won't happen in time, and we really can't wait any longer. There's a secondary offer on our house, and we have a lease that's up at the end of August so we can't just wait around for a month until it comes off.
So...now that I've completely bored you with my rambling, is there a REPUTABLE lender that will do FHA for scores below 640? DH is the only one who has income, and his scores are 664, 632, and 626. Any help that anyone could provide would be greatly appreciated!!! We live in WI if that makes any kind of difference.
