Mortgage lenders for FHA loans in DFW with little to no overlays?

[Anonymous]

Hey everyone,

I'm hoping to get some help with recommendations on a lender that could help us with the home buying process in the dfw area. My wife and I will be first time home buyers, we both have worked extremely hard to bring our credit up and feel we are in a position to apply. We went from her having low 500s, me mid 500s and now she has a mid score of 655 and I have a mid score of 686.

The reason why we are looking for a lender with few to no over lays is because we have old charged off accounts (all past the SOL). Per my research chargeoffs are not required to be paid off and I would hate to dip into our savings to have to pay some off if it's technically not required.

Hoping to get some feed back, thank you.

[ShanetheMortgageMan]

I can't think of a lender that requires charge-offs to be paid for an FHA loan.  Overlays for that sort of stuff were popular in 2011-2014 but the credit market has eased quite a bit so it'll be pretty rare to run into a lender that requires it.  That said, your best bet could be a mortgage broker since they have access to many different lenders and certainly would have one that doesn't require charge-offs to be paid.  I'd look into getting a referral to a particular loan officer, rather than a lender, since lenders are made up of terrible & good loan officers... whereas if you get a referral to a loan officer there is a much better chance they'll be a good one (since no one usually refers people to terrible loan officers).

[Anonymous]

Thanks for the info, a LO/broker referral would be great also

[ShanetheMortgageMan]

The community here is designed for mortgage advice, not for referrals.  While asking for referrals on the forums here is not specifically prohibited, it's something we'd like to curb in the community since it often stifles conversation/advice being shared for others to read (which is how a good amount of people choose to do their research before making direct contact with a loan officer).  If you'd like to discuss your situation outside of the "public view" then you are more than welcome to reach out to other users privately to ask for advice (including referrals), and please remember to report anyone who reaches out to you without you contacting them first, as soliciting like that is against the TOS.

[homeloanexpert]

There are many good lenders/LO's on this site you can reach out to.

Best wishes to you!

[Anonymous]

Can someone provide me with a lender for fha in Michigan please

[Anonymous]

Dfw thread bud

[VALoanMaster]

There are a couple of us that lend in all 50 states.

[Anonymous]

I don't have a lender rec, but do want to chime in that my lender for FHA did want me to pay a chargeoff that's past SOL and is only $300. It fell off my credit report so I think they gave up on it, but won't be shocked if I end up having to pay it at closing since they know it exists from the first credit pull (it naturally fell off in the interim).

It's super weird because I have one other chargeoff that's past SOL that's 4k that they didn't care about. I wasn't going to fight much over $300 but it surprised me.