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FHA and VA Credit Score Down to 600

FHA and VA Credit Score Down to 600

Rebecca Squyres

April 20, 2022

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GMFS is now offering FHA & VA down to 600.

Please consider the following additional guidelines:

Additional Requirements for FHA between 600-619

  • Must have DU Approve/Eligible findings
  • No Rent Free borrowers allowed
  • Verification of rental history is required. Must be verified with VOR and must be 0x30. VOR cannot be provided from an interested party or family member.
  • 3.5% minimum borrower’s own funds required for down payment
  • No gift funds

Additional Requirements for VA between 600-619

  • Purchase money only
  • Must have DU Approve/Eligible or LPA Accept/Eligible findings
  • No collections in the last 12 months (medical expenses excluded)
  • Max 1.x30 mortgage in the last 12 months
  • No disputed accounts
  • No High Balance/Jumbo VA allowed

 

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About GMFS

We are one of the fastest growing mortgage companies in the United States offering great mortgage financial solutions. Headquartered in Baton Rouge, Louisiana, GMFS originates residential mortgage loans, primarily in the southern states. Founded in 1999, GMFS has approximately 250 employees. more about GMFS

GMFS Mortgage is a BBB Accredited Mortgage Lender in Baton Rouge, LA
Equal Housing Lender. © 2017 GMFS, LLC. Upfront approval subject to satisfactory property review and no change in financial condition. Some products may not be available in all states. All loans subject to credit approval. All mortgages are originated by GMFS LLC at 7389 Florida Blvd. Suite 200A Baton Rouge, LA 70806. NMLS #64997. LA License 619. The retail division of GMFS LLC is Doing Business As “GMFS Mortgage”.

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