Too much info missing.. However, I can tell you that with a low score, it will be difficult no matter how much you put down.. Most lenders require a 640 or higher.. some will go as low as 620 or even 600.. we have a lender that will go do 500, however the guidelines are so strict that very few get approved... your far better off working on improving your score, and then go look for a home.. as far as $15K down.. if your purchasing a $400K home, then it's not even 4%.. however if your purchasing a $60K home, then that's 25% down and that's good.. no one can tell you if you can get approved just by your two sentence question above.. much more info would be necessary to answer properly.. The best advice I can give you is to contact a LOCAL mortgage broker and apply with them. Do not use the local "Big" bank, or one of those 50 states internet lenders or nationwide lenders...By applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com
What is your purchase price?
Would need to get more info but based on your score and cash on hand it all sounds good, we would need to make sure your debt to income works as well as the purchase price!Call us or email us at 201-962-3555 or Team@BestMortgageOption.com for ano cost no obligation analysis of your situation.Ask for Michelle or Benny We will find the Best Mortgage Option to suit your needs!You can check us out at www.BestMortgageOption.com
Need alot more information, I can help you and I am a local NY lender, 1 855 411 LEND , email me at NYLOANMAN@aol.com
I doubt you would be eligible for a conventional loan but an FHA loan would work at 3.5% or more down. If you are a veteran you could be eligible for a VA loan with a 600 score as well, but not all lenders will accept scores under 620 or 640. I would reach out to one of the lenders in your area that have responded to you. Good luck!
I can do fha 580 score. contact me.Thanks
Need more information but we will not go below 640 credit.
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