Low credit scores, but willing to make a large down payment for a new home.

Not an problem, main issue that I have for files under 620 credit is that most of the time a 12 month rent payment history is required, either property management verification or 12 months of cancelled checks if paid to individual party. This applies to all transactions down to 580 credit score. You only need 3.5% down with credit down to 580 and 10% down for credit to 560. You can call me at 209-727-4348. Thank You Antonio

Absolutely this is possible, and you may not need to liquidate your investments. First of all, don't use one of the big banks. Find a local Mortgage Broker or Mortgage Banker. They will help analyze your credit. Many customers can easily get their scores improved by 30-40 points with a Loan Originator who knows how the credit scoring models work. Most bankers won't take the time. If you can get your scores to 640 or better, virtually every investor and loan program becomes available to you. This will improve your pricing and result in a better rate and payment. Even if you can't get your scores up, there are many programs available for those with good job time and income and modest credit.

LucyI can do a FHA loan down to a 540 socre your scores are well above that. You would only need 3.5% of the purchase price. I also have programs that will require no downpayment and 100% financing. There are special programs for Califronia. Please call me if you would like more info Gordon 540 293 9296. I work for a Califronia based mortgage company. by the way the fha loans will get in you in the 3 to 4 % range for the interest rate, Hope to hear from you

I guess my first question would be why are your credit scores low if you have no debts?? Did you have collections, late payments?? Bankruptcy?That could play a role in having you approved for a loan. A 639 credit score and a 4 years employment history for your husband could get him approved on an FHA loan. It may be difficult to have you on the loan because your credit score is below 620 and your employment history is less than 2 yrs.Having said that, I think you may have a good chance getting an FHA loan, provided the credit history is within the guidelines of FHA.

it is possible but you may not like the terms of the loan, work on the credit a little to get a 620 credit, you may need to just pay down some credit cards, clean up some collections, or you can try and purchase with just your husband on a 634 credit score. Call me if you wish to discuss further at 909-503-5600.