Bloomberg reports that 33% of the country is under 620 FICO - don't turn these borrowers away!

FHA 620-640

• DU Approve or Manual Underwrite
  
• Disputed Accounts - follow HUD guidance, contact AE for details
  

FHA 500-620

• DU Approve or Manual Underwrite
  
• DTI up to 50%
  
• Late Payments OK
  
• Disputed Accounts - follow HUD guidance, contact AE for details
  
• Collections over 5,000 can be required to be put into a payment plan by UW
  
• Verification of Rent
  
• Homebuyer Education Course
  
• 500-579 FICO = 10% down payment
  

These are FHA loans, so all standard FHA guidelines apply - BK 2 years, FC 3 years, Short Sale 3 years, etc.. We also have manufactured homes up to 90% LTV and 2 acres, and down payment assistance available with only 0.5% down payment in California. And we can qualify No FICO borrowers at 3.5% down as long as they meet FHA requirements for Alternative Credit.