Fico Score Less than 600 Purchase Transactions

If you would like to buy a home or condo in the greater Los Angeles and Orange County areas and have a credit score that is less than 600 please read below.

If there is a credit score, the minimum loan score and LTV
requirements that this program will allow are as follows:

• Less than 500 loan score not eligible

• 500-579 loan score, maximum 90 percent LTV (Loan to Value)

• 580-599 loan score, maximum 95 percent LTV

• Greater than or equal to 600 loan score, maximum 96.5 percent LTV

In addition, any time the loan score is less than 600 all of the following

requirements apply:

• Seller contribution limited to 3 percent

• No gift funds allowed for the down payment required to meet the maximum LTV

Other restrictions apply 

For more details, contact me today.