Hey, nobody’s perfect.
We can still help you get a mortgage, though. The Federal Housing Authority’s Choice Loan is designed to assist borrowers whose less-than-perfect credit history makes it difficult for them to qualify for a traditional mortgage.This government-insured FHA loan option is ideal if you’re hitting dead ends every time you try to qualify for a mortgage. Get this 30-year mortgage with a fixed rate even if your credit score is in the 500s.
- One of the industry’s lowest credit score requirements means greater accessibility
- Compensating factors are allowed to qualify
|Down Payment||3.5% of the final loan amount (on approved credit)|
|Terms||30 years, fixed rate|
|Credit Score||500 minimum|
|Maximum Loan Limit||Yes, varies by county|