Many banks out there such as BOA, Wells Fargo, World Savings offer very competitve home loans but the catch is that they deal with "A" paper. "A" paper is usually defined as having a credit score of 620-660+. So what about those who have low FICO scores?

Most people with low credit scores are subjected to shopping for a lender/broker to get a decent rate these days. The mortgage industry does require customers to have a minimum score of 500 to even qualify for a loan. Those with scores lower than 500 are led to believe that no loans/programs exsist but in reality there are ways to boost credit scores above 500 in many cases. There are certain incorrections on many credit reports that can be corrected with a very insightful analysis.

Any questions in regards to commercial, residential home loans? Feel free to email
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Kevin
klu@nationwidemortgage.net
Nationwide Mortgage

WOW! Times must have changed [since I went on Holiday]. I can't imagine a 620 FICO score as "A" paper.

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Cold Calling (This is too easy!) ~ Sales Training ~ Mobile Homes For Sale

Hey Jeff, it depends on the lender. If it makes it easier for borrowers than why not benefit them. Some lenders do require a FICO of 660 though for "A" paper