Tell your friends! From a lender's email flyer...Don't Be Scared of LOW FICO's!FXdew Mortgage - Irvine Branch funded $20 million last month. And our corporate office funded 2,300 loans under 620 FICO in 2011. FVgre Mortgage Corporation is a Direct Lender with 37 years of experience in government lending. We believe careful analysis of credit, income, assets, and collateral should be the determining factor of loan worthiness, not credit scores alone. FHA FICO 620-640DU Approve or Manual UnderwriteDisputed Accounts - follow HUD guidanceCHF Platinum for qualified applicants, 3% Grant in CA OnlyapAll other FHA Guidelines ApplyFHA FICO 580-619DU Approve or Manual UnderwriteDTI to 50%Isolated Late Payments ok with DU ApproveDisputed Accounts - follow HUD guidanceCollections over $5,000 subject to UW discretion12-month Verification of Rent or Budget LetterHomebuyer Education CourseCHF Access for qualified applicants, 3% 2nd mortgage in CA OnlyAll other FHA Guidelines ApplyFHA FICO 500-579Same requirements as FICO 580-61910% down paymentAll other FHA Guidelines ApplyFHA NO FICOMax Housing Ratio 31%VOR + 2 alternative trades OR 2 months PITI cash reservesAll other FHA Guidelines Apply
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