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Monday, March 24, 2014
The Kentucky FHA Mortgage Alternative to high Mortgage Insurance with a 620 credit score.
The Kentucky FHA Mortgage Alternative to high Mortgage Insurance.
5% Gift Program
· Conventional 95% LTV with 5% Gift
· Minimum 620 FICO Required
· Must be approve/eligible thru Desktop Originator
· Borrower-Paid and Lender-Paid MI are Available
A lot of lenders are rolling out 100% financing with scores down to 620 .... THATS CORRECT 620!!!! we now have an agreement with our mi providers to where we can do a 95% purchase loan , with a 5% gift ..all with only a 620 score !!! must have an automated approval ,when running in du gift is considered borrowers own funds/input as own funds . Thanks and have a wonderful day .