Can you get a Kentucky Mortgage Loan with a 600 credit score in 2014?

In order to get a Kentucky FHA Mortgage Loan with a 600 credit score, you must meet the following requirements to qualify.

Note. some lenders require additional credit overlays that may affect your mortgage loan approval.

 Credit Score Basics : Credit score is one of the most important factors when applying for a mortgage loan.What are most important factors and shares excellent tips on how you can keep a high credit score to get approved for a mortgage.

3 active trade line reporting to the bureaus (rent can count as one).

43% max debt ratio

2 most recent bank statements with 2 months piti in reserve

No bankruptcies or foreclosures in last 3 years  

Verifiable rent history from management company or cancelled checks if you rent from individual for last 12 months with no 30 day lates

3.5% down payment required. Cannot do the Welcome Home Program

***We require a 620 credit score for Kentucky USDA Loans and a 620 credit score for VA loans.
Fannie Mae Mortgage Loans require a 620 credit score. If mortgage insurance is needed for Fannie Mae loans, the minimum credit score is higher and subject to investor  mi approval.

Joel Lobb
Senior  Loan Officer

American Mortgage Solutions, Inc.
800 Stone Creek Pkwy, Ste 7,
Louisville, KY 40223

 phone: (502) 905-3708
 Fax:     (502) 327-9119

 Company ID #1364 | MB73346

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