FHA MORTGAGES DOWN TO A 500 CREDIT SCORE
is currently offering FHA loans down to a 500 credit score for properties located in the State of California.
- Purchase or refinance.
- 500 minimum credit score.
- Borrowers with no credit scores OK with non-traditional credit.
- Maximum loan-to-value is 96.5% for no credit score.
- Maximum loan-to-value is 96.5% for 580+ credit score.
- Maximum loan-to-value is 90% for 500-579 credit score.
- Down payment may be a gift from a family member.
- Seller can pay borrower’s closing costs to 6% of purchase price.
- First-time homebuyer OK.
- W-2 wage earner or self-employed.
- Non-occupying co-borrowers allowed.
- Primary residence only. No second home/investment properties.
- SFR, PUD, condos, townhomes and 2-4 units.
- Condos/townhouses must be FHA-approved, look-up here.
- Late payments OK with automated underwriting approval.
- No reserves required with automated underwriting approval.
- Up to 50% DTI with automated underwriting approval.
- Maximum DTI is 43% with non-traditional credit.
- FHA loan limits apply and are county-specific, look up here.
- U.S. citizens and permanent residents are eligible.
- Foreign nationals and ITIN workers not allowed.
- 30-year fixed rate.
- No prepayment penalty.
To download a loan application
for our FHA loan program
down to a 500 credit score:
LENDERLINE® is your FHA lender of choice. To discuss FHA loan requirements, call us today.
Questions? For today's FHA rates, or to receive a FREE consultation CALL LENDERLINE® toll-free at 1-888-661-7888.