Yes! The Minimum FICO is 500 for FHA Loans

What if I told you I could approve the majority of your clients that have credit scores in the 500's? When Loan Officers say its not possible that means that the company they work for won't do it, they don't understand how to make it happen, or they don't want to put their creative skills to work and take the extra time.

Once these buyers buy a home they are also more likely to send referrals to the loan officer and the realtor for their help as they feel the service they were given is outstanding as other realtors/lenders wouldn't give them the time of day.

At CrossCountry Mortgage, LLC we have virtually no overlays which allows me to have no additional restrictions when coming up with a solution for an approval. For Example, removing a few disputed accounts and obtaining a gift from a family member can all be done and completed in as little as a few days to change a rejection to an approval for a borrower. There are so many angles that can help obtain an approval!

As shown in the graphic above if a borrower has a credit score of a 579 or lower it just requires a bit more of a Downpayment. They may even have a 401k that they can pull from and don't realize it or maybe they are getting a tax refund soon. Instead of having your primary lender send everyone 600 and lower to credit repair and closing very few of those deals, you can send just the low credit clients my way and you will see a robust return in approvals. Here at the WINTERS TEAM we don't leave anyone out in the COLD!