483 credit score

magicj3 · #1 (**permalink**) 06-17-2006, 08:07 AM

I have a client that is looking to purchase a home. Her existing home she does not have a mtg on it. Her mid score is a 483. The sister that lives with her her mid is like a 555 I think. Shes not looking for a 100 percent financing, she is willing to put down as much as 40 percent. Any ideas on who I should take this too or should I send her to a Credit and Debt Manangement service?

smartlending · #2 (**permalink**) 06-17-2006, 02:05 PM

if you are looking to take money out of her existing home...i can get you up to 75%. of that they she can put whatever she wants on the new home...and i can get her up to 75% on that one too. But i can only do this loan in about 20 states. these loans are stated as well.

magicj3 · #3 (**permalink**) 06-17-2006, 02:33 PM

You a lender in NJ?

smartlending · #4 (**permalink**) 06-17-2006, 02:38 PM

no im a broker in CA. is the property in NJ?

magicj3 · #5 (**permalink**) 06-17-2006, 03:24 PM

Yes. Camden NJ

Greg · #6 (**permalink**) 06-20-2006, 03:55 PM

Hard Money?

FHA might do it.. Is the last 12 months clean? Is the last 24 months clean (credit)

Do they have 3-4 credit letter form utilities and so on to have something to show positive for credit?

magicj3 · #7 (**permalink**) 06-20-2006, 04:25 PM

Yea i tried a hard money lender here in NJ but they never got back to me with a response. She currently has no mortgage its paid off.