580 score

[Don Hines]

Anyone having any luck getting customers financed with a 580 score? I have one with some cash for the 10% down payment. But, the broker that I sent her to refered her to a credit repair co.
the FHA website states "borrowers with credit scores between 500-579 are elgible for a maximum FHA loan of 90% LTV...."

Don

[Ryan Pyle]

Wells Fargo and Quicken loans will do a 580 score with 5% down. They have to pay their own closing costs....no seller contributions. Also no negative credit in the last 12 months.