Latest on mortgage qualification

This just in from Evergreen Mortgage:

 FHA; 3.5% Down payment, minimum credit score  580, non-traditional credit allowed

·        Conventional; minimum 5% down payment, minimum credit score 620, non-traditional credit allowed

·        My Community conventional mortgage; minimum 3% down payment, minimum 620 credit score, non-traditional credit allowed

·        USDA;  Zero down payment minimum credit score 640 per USDA changes Dec. 1^st, 2014, non-traditional credit allowed

·        VA; Zero Down payment, minimum fico 580

·        Manufactured homes; FHA, VA to 600 credit score for purchase, Conventional requires 660 credit score

Raymond Gravelle, Broker

Realty Executives Grant County

Your Residential & Commercial Expert
509.771.0027 cell/text

509-498-2056 fax

RaymondGravelle@RealtyExecutives.com