Georgia FHA Loans below 620
I will be moving to Georgia very soon. I have had my job with the same company for over 11 years. My spouse will not have a job when we move.I have a middle score of 619 which a mortgage company has told me is not high enough for an FHA mortgage. My wife's middle score is 700.Can I use her on the FHA loan for score purposes, or does she need to be employed to be on the loan?My income is well above the needs for the house we are looking for. Our debt to income is only 13% with my income.Is there a Georgia Lender doing FHA loans with a credit score below 620? by bhbjk1 from Atlanta, Georgia. Jun 21st 2011
Gianni Cerretani (mortgagegodfather)
#32 ranked lender in Georgia - 238 contributions
Hello my fellow Georgian: Please call me as I can help you out-678-381-2264 or gianni.cerretani@fcmhomeloans.com- we can do a Georgia Dream FHA loan at 620.
Geoffrey Tirabassi (geoffrey.tirabassi)
#67 ranked lender in New Jersey - 34 contributions
As the others have mentioned their are a few lenders in the game to do FHA mortgages with sub 620 scores but the process will likely be difficult and you will have a diminished oppurtunity for seeking out the best deal. Your wife can certainly come onto the loan application but the scores that will effect the loan are the lowest scores of all borrowers. To put it another way your wifes scores will not have a positive impact. I would suggest looking into doing some credit repair. You may be surprised at how quicly you can imporve your scores.
Ignacio L Taboada (itaboada)
#47 ranked lender in Georgia - 23 contributions
We Have investors that will accept FHA below 640 typically it requires manual underwriting you have to be patient your other option is to analyze your credit score to see if we can improve it to 640 we have tools to improve your scoreIf you have any other questions you can visit me at www.pgmrtg.comwe can check your credit free of chargeHave a great day
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