Home Loans in Virginia For Bad Credit and 550 FICO Scores

Homebuyers have many mortgage options when looking for home loans in Virginia for bad credit and low credit scores. The best home loans in Virginia for bad credit and credit scores down to 550 FICO scores are FHA and VA loans.  Unfortunately, not all people are eligible for VA loans.

If you are looking for home loans in Virginia with 550 fico scores and bad credit, you are in the right place. Bad credit with home loans can be done with the right knowledge.

This is detailed below, how to improve your chances, and how to navigate the entire spectrum. FHA loans are the most popular home loans in Virginia for bad credit borrowers. The reason FHA loans are the most popular home loans in Virginia for poor credit homebuyers is that it is the easiest mortgage loan program to get an approve/eligible per the automated underwriting system (AUS) for borrowers with low credit scores and with prior credit/income issues.

Home Loans in Virginia For First-Time Homebuyers

First-time homebuyers can qualify for home loans in Virginia for first-time homebuyers with little to no credit tradelines, no credit scores, just out of college, and borrowers with bad credit. Many first-time homebuyers are witnessing the surging prices of homes and are looking at buying versus renting in Virginia.

Virginia was one of the hardest-hit states after the Great Recession of 2008. The state of Virginia was one of the states hardest hit by the loss of businesses relocating to other states and plummeting home values.

Real estate values in the state of Virginia have not just recovered but have been surging for the past few years. The housing markets and economy have long since recovered and are one of the fastest-growing states in the nation. The state has one of the strongest economies in the nation with great job opportunities, low taxes compared to other Eastern states, and a strong housing market.

What Credit Score Do I Need To Buy a House in Virginia?

Homebuyers can qualify for FHA, VA, and non-QM home loans in Virginia with poor credit. One of the frequently asked questions we get at Gustan Cho Associates is what credit score do I need to buy a house in Virginia.

A bad credit score is 550 and lower. With scores in the poor category (about 500 to 579), you will qualify for at least a mortgage. There will be some loans, however, with lower to no credit restrictions, because there are also bad credit home loans.

The mortgage markets have totally changed in the past several years. Many people who could not qualify for home loans in Virginia a few years ago due to bad credit and low credit scores can qualify for various types of home loans in Virginia today. It is not just government and conventional loans that homebuyers can qualify for.

Why Loans for Home with Bad Credit?

With loans for home with bad credit, you will be able to fulfill homeownership dreams. Once you get and manage your mortgage to completion, you will also be able to improve your credit. Homes make you feel financially supported, and you also get more stability with your future.

You can have a credit score as low as 500, but you will have to pay a 10% down payment. If your credit score is 580 or above, you can pay a 3.5% down payment instead.

The housing market has been bullish since 2014 with more demand for homes than housing inventory. The state has one of the hottest housing markets in the United States. Many people from higher-taxed states like New York and Massachusetts are fleeing to Virginia due to Virginia’s lower cost of living, strong state economy, low state taxes, and affordable housing. Other people and businesses from other high-taxed states like California are also migrating to Virginia.

What Mortgage Options For Bad Credit Is Best For You in Virginia

FHA and Conventional loans are the two most sought-after loans from homebuyers. VA loans are great for borrowers with bad credit and credit scores down to 500 FICO. However, not everyone are eligible for VA home loans. If you have a low credit score, you might consider applying for an FHA loan. They have a low barrier entry since they are backed by the Federal Housing Administration.

You need to be an active and/or retired member of the U.S. Armed Services to be eligible for VA home loans in Virginia. FHA loans are the best loan program in the U.S. for first-time homebuyers and borrowers with less than perfect credit.

The U.S. Housing And Urban Development ( HUD ), the parent of the Federal Housing Administration (FHA), is the government agency that administers the nation’s FHA loan program with HUD-approved lenders. HUD is not a lender nor does it originate nor fund FHA mortgages. You can qualify for FHA home loans in Virginia with poor credit and credit scores down to 550 FICO scores. You can have a low downpayment. They are flexible with how much income you make, and closing costs can be included in the final loan amount.

FHA Loans For Poor Credit in Virginia

The role and main function of HUD is to insure home loans that meet HUD Guidelines to banks and private lenders who originate and fund FHA loans. HUD insures lenders in the event borrowers default on their FHA Loans and the loan goes into foreclosure.

Factors HUD is concerned about are the borrower’s credit scores, payment history in the past 12 months, debt to income ratio, the stability of income and employment, and the ability to repay.

In this article, we will discuss and cover Virginia FHA loan requirements and guidelines and how homebuyers can get approved for FHA loans in Virginia. Because you have to pay for mortgage insurance, your monthly payment will probably be higher than you would like.

How Do I Get Pre-Approved For Home Loans in Virginia

Homebuyers planning on purchasing a home need to research mortgage loan programs. Borrowers should evaluate their credit scores, income, assets, liabilities, and how much home they can afford. The loan officer will qualify you and give you the number on how much home you qualify for. However, the loan officer does not know your personal expenses that do not report on the credit bureaus, lifestyle, and finances.

Best Home Loans in Virginia For Homebuyers with High Debt-to-Income Ratio

There are factors loan officers consider during the mortgage qualification and pre-approval process prior to issuing you a written pre-approval letter. The first thing loan officers ask is about your gross income and about your employment history. Lenders want to know about your job and income stability and the likelihood of you making the same or higher income for the next three years. Nobody has a crystal ball and can tell the future.

How Much House Can I Afford in Virginia

The Importance of Continuation of Income

The best prediction of your income and job stability is by your past income and work history for the past years of working. Lenders will judge whether or not you will be a good payer of your new home loan with your payment patterns in the past and credit scores. If you have been timely with all of your payments in the past several years and you have good credit scores, the lender will view you as a good credit risk.

Shopping For A Home in Virginia With A Pre-Approval Letter

Before home buyers can enter into a real estate home purchase contract, the sellers and/or seller’s real estate agents will want to see that the home buyer is pre-approved. A pre-approved homebuyer can enter into a real estate home purchase contract. The pre-approval stage of the mortgage process is the most important step. The number one reason why there is stress during the mortgage process and the reason for last-minute mortgage loan denial is due to borrowers not being properly qualified and loan officers issuing pre-approval letters without properly qualifying borrowers.

How Do You Get Pre-Approved For Home Loans in Virginia With Bad Credit

Pre-Approvals, which is a step above pre-qualification, is when a loan originator thoroughly reviews the mortgage applicants following:

• credit scores
• overall credit
• payment history
• debts
• assets
• income
• employment
• employment and residential history
• bank statements
• tax returns
• W-2s
• bankruptcy/foreclosure paperwork
• divorce/child support paperwork
• public records
• credit tradelines
• other important items on the borrower prior to the issuance of the pre-approval letter
• Loan officers should run the borrower’s credit and financial profile through the Automated Underwriting System prior to issuance of pre-approval letters

There is no reason why a borrower who has been thoroughly pre-approved for an FHA loan not be able to close on their mortgage and go through stress during the mortgage process.

What Are The Minimum Credit Scores Needed To Qualify For Home Loans In Virginia?

Mortgage lenders use the FICO credit scoring model (Fair Isaac Corporation). Borrowers need to meet minimum FICO credit score requirements to qualify for FHA loans in Virginia. Each borrower has three credit scores, one from each of the three major credit bureaus, which is a numerical indication of a borrower’s creditworthiness at a specific time. Experian, Transunion, and Equifax are the three major credit reporting agencies. The FICO credit scoring system is an intricate sophisticated automated system that takes many factors of the borrower’s credit report into account before giving them a FICO credit score.

Mortgage Rates For Home Loans in Virginia With Bad Credit

Lenders will check borrowers’ FICO credit scores before offering them a mortgage loan. A mortgage is a loan to buy real estate. An FHA loan is a home loan that is insured by the federal government (HUD). HUD insures lenders in the event if the borrower were to default on their home loan and the bank lose money. HUD guarantees the bank and/or lender who funded the FHA Loan in the event borrowers default on their FHA loans. In order for HUD to insure and partially cover the loss of a defaulted FHA loan, the lender needs to have followed the HUD agency guidelines on the FHA loans, especially the HUD 4000.1 FHA Handbook credit and income mortgage guidelines.

What Credit Scores Are Used By Mortgage Lenders?

There are three major credit reporting agencies. Each of the three credit bureaus has its own unique credit scoring system and holds its own credit records of consumers. Every credit bureau calculates its own credit score, and each credit reporting agency needs to provide consumers with at least one free copy credit report each year for on-demand consumers

Credit scores are different –

• they are based upon your credit report, but not exclusively so

A FICO score is not the same as a credit score:

• The three credit agencies are Equifax, Experian, and TransUnion
• Each credit bureau calculates its own credit score
• Consumers must pay to receive credit scores and it is not included in their free annual credit report

Consumers who need their credit scores can purchase them through only true myFICO.com. The FICO 2 credit score is used by lenders to base the qualifying credit scores of borrowers.

How Is The Qualifying Credit Score Determined By Mortgage Lenders

Lenders will not just look at the qualifying credit scores of mortgage applicants but will also review overall payment history on consumer credit reports. Late payments in the past 12 months are something lenders will pay attention to. Many lenders will automatically disqualify borrowers who had any late payments in the past 12 months.  Gustan Cho Associates has no overlays on FHA, VA, USDA, and conventional loans. So borrowers with late payments in the past 12 months can qualify for FHA loans in Virginia as long as they get approve/eligible per Automated Underwriting System (AUS).

There are three credit scores for every mortgage borrower:

• Experian
• Equifax
• Transunion

What Do Mortgage Underwriters Look for in Credit Reports?

Mortgage companies use the middle credit score of borrowers. If there is a co-borrower, then mortgage companies will use the lower of the two borrower’s middle credit scores as the qualifying credit score. Consumer credit reports will state the amount of credit the borrower has and the overall payment history. Credit reports will also detail the consumer payment patterns.

How Do Mortgage Underwriters Analyze Credit and Income Profile

Credit reports will reflect the following:

• behavior such as when the consumer opened up a particular credit tradeline
• late payment history
• limit on revolving credit accounts
• outstanding balance
• credit inquiries
• collection accounts
• charge off accounts
• public records such as bankruptcies and foreclosures
• other credit and financial information of consumers

The type of credit such as revolving debt, installment debt, federal student loans, auto loans, furniture credit, and other details on creditors will be stated on consumer credit reports.

FHA Loan Credit Score Requirements

FHA loan credit score requirements is a 580 FICO for a 3.5% down payment home purchase FHA loans. Homebuyers with credit scores under 580 FICO and down to a 500 credit score can qualify for FHA loans with a 10% down payment.

Home buyers can qualify for a 3.5% down payment FHA loan in Virginia if they meet the following HUD Guidelines on FHA loans. Gustan Cho Associates has no lender overlays on FHA loans.

As mentioned, the minimum credit scores to qualify for a 3.5% down payment FHA loan is 580 FICO. Borrowers with under 580 and down to 500 FICO credit scores can qualify for an FHA loan in Virginia with a 10% down payment as long as they can get an approve/eligible per the automated underwriting system.

FHA Loans in Virginia after Bankruptcy

Homebuyers can qualify for an FHA loan after Bankruptcy in Virginia. There are waiting period requirements after bankruptcy and foreclosure on government and conventional loans. The waiting period requirements depend on the individual loan program. There is a separate and distinct waiting period requirement after Chapter 7 versus Chapter 13 Bankruptcy. Chapter 13 Bankruptcy Guidelines on FHA and VA loans are exactly the same.

FHA Loans After Chapter 7 Bankruptcy in Virginia

Homebuyers can qualify for FHA home loans in Virginia after the Chapter 7 Bankruptcy discharge date. You need to wait two years after the Chapter 7 Bankruptcy discharged date to qualify for FHA home loans in Virginia after the Chapter 7 Bankruptcy discharged date. You cannot have any late payments after the discharge date. Rebuilt and re-established credit is required.

VA Home Loans After Chapter 7 Bankruptcy in Virginia

The Department of Veterans Affairs requires a two-year waiting period after Chapter 7 Bankruptcy to be eligible for VA home loans in Virginia. Just like FHA loans, you cannot be late with any creditor debt payments after your discharge date. You need re-established and rebuilt credit after bankruptcy.

VA loans can be taken out by military members, veterans, or military family members. Since they are backed by the Department of Veterans Affairs, they have the lowest credit requirements.

There is no set credit score of to qualify, but many lenders would like to see a score of 620. They don’t require a downpayment and you don’t have to pay for mortgage insurance. Loan rates are also pretty low at times. To qualify, enlisting in the military or being family to one is required.

FHA Home Loans in Virginia During Chapter 13 Bankruptcy

Homebuyers in Virginia can qualify for an FHA loan during the Chapter 13 Bankruptcy repayment plan without the Chapter 13 being discharged. Homebuyers can qualify for an FHA loan one year into a Chapter 13 Bankruptcy Repayment Plan with the approval of the Trustee. Again, the Chapter 13 Bankruptcy does not have to be discharged but timely payments are required during the payment plan. All payments to creditors inside and outside Chapter 13 need to be paid in timely. FHA home loans in Virginia during Chapter 13 Bankruptcy payment plan are manual underwriting. Manual underwriting guidelines apply.

VA Home Loans in Virginia During Chapter 13 Bankruptcy

Homebuyers can qualify for VA home loans in Virginia during the Chapter 13 Bankruptcy repayment plan. VA loans are the best loan program with 100% financing, no mortgage insurance, and 100% financing. Chapter 13 Bankruptcy does not need to be discharged.

Homebuyers can qualify for VA home loans in Virginia one year into a Chapter 13 Bankruptcy Repayment Plan with the approval of the Trustee.

Again, the Chapter 13 Bankruptcy does not have to be discharged but timely payments are required during the payment plan. All payments to creditors inside and outside Chapter 13 need to be paid timely. VA home loans in Virginia during Chapter 13 Bankruptcy payment plan are manual underwriting. Manual underwriting guidelines apply.

FHA Loans After Chapter 13 Bankruptcy Discharge

There is no waiting period to qualify for an FHA loan after the Chapter 13 Bankruptcy discharged date. However, if the Chapter 13 Bankruptcy discharge has been seasoned for less than 24 months, it needs to be a manual underwriting. You cannot have late payments after bankruptcy to be eligible to qualify for FHA home loans in Virginia.

VA Home Loans in Virginia After Chapter 13 Bankruptcy Discharge

There is no waiting period to qualify for VA home loans in Virginia after the Chapter 13 Bankruptcy discharge date. However, if the Chapter 13 Bankruptcy discharge has been seasoned for less than 24 months, it needs to be a manual underwriting. You cannot have late payments after bankruptcy to be eligible to qualify for VA home loans in Virginia.

FHA Loans After Foreclosure in Virginia

Homebuyers can qualify for FHA home loans in Virginia after foreclosure, deed in lieu of foreclosure, and a short sale. There is a three-year waiting period to qualify for an FHA loan after the recorded date of foreclosure, deed in lieu of foreclosure, short sale No late payments in the past 12 months. Outstanding collections and charge-off accounts do not have to be paid to qualify for FHA loans in Virginia.

VA Home Loans in Virginia After Foreclosure

Homebuyers can qualify for VA home loans in Virginia after foreclosure, deed in lieu of foreclosure, and a short sale. There is a three-year waiting period to qualify for a VA loan after the recorded date of foreclosure, deed in lieu of foreclosure, short sale No late payments in the past 12 months. Outstanding collections and charge-off accounts do not have to be paid to qualify for VA loans in Virginia.

Home Loans in Virginia, even with a Bad Credit or a 550 Credit Score

What can you do if you have bad credit in Virginia? How can you qualify for a Home Loan with a bad credit score, such as a 550 FICO score? FHA, VA, Non-QM Home Loans, and more.

Why Bad Credit Won’t Stop You From Buying Your Home in Virginia

Even with a bruised credit history, you can still buy a home in Virginia. Most lenders have what are called “overlays”, which are additional requirements that leave otherwise qualified loans unclosed. Here at Gustan Cho Associates, we offer home loans in Virginia for borrowers with bad credit and FICO scores as low as 550, utilizing manual underwriting, as well as a variety of tailored income verification strategies and recent credit programs. As long as we can justify a plan with a stable income and reasonable debt management, we can proceed to closing.

The Fast Path: Know Your Starting Point

• Middle FICO matters: It is a common quirk of lenders to either look at the lower of two score triads or the middle FICO of all three.
• Approved relies heavily on DTI: The lower your DTI, the more desirable the file will be.
• 12 months of rent: Documenting Manual Underwriting can be significantly helped with on-time payments for 12 months.
• Compensating factors: Additional income, job stability, or lower DTI can make up for the lower scores.
• Extra savings make a big difference, too.

FHA Loans in Virginia With 550 FICO: What to Expect

Minimum Scores & Down Payment:

• 580+ FICO: Eligible for 3.5% down FHA financing.
• 500-579 FICO: Often eligible with 10% down (manual underwriting likely).

Why FHA Fits Bad Credit Borrowers

• More lenient credit guidelines compared to conventional ones.
• Manual underwriting is available when automated systems say, “refer.”
• Non-traditional credit, such as utilities, insurance, and streaming services (when properly documented), can be helpful if you have a thin credit file.

Key FHA Approval Factors for 550 FICO Files

• Clean 12-month payment history on housing and major accounts.
• DTI discipline: Aim for ≤ 43% on manual underwrites (higher possible with strong compensating factors).
• Verified funds to close: Gift funds allowed; document paper trails carefully.
• Collections charge-offs: Many do not need to be paid to qualify, but we’ll evaluate any impact on DTI and manual-uw requirements.

USDA Loans

The USDA Loans help people with low to medium income to purchase houses in rural and suburban areas. It is backed by the Department of Agriculture.

• Minimum Credit Score on USDA Loans: Normally at 580. Some lenders may accept lower scores with certain compensating factors.
• Benefits: No down payments, competitive and flexible interest rates, and flexible credit guidelines.
• Considerations: There are income limits and the property must be in a rural area.

VA Loans Available for Veterans with Bad Credit

Suppose you’re an eligible Veteran, current active-duty service member, or a surviving spouse with VA entitlements. In that case, these loans are probably the most accessible if you have bad credit in the state of Vermont:

Why VA Works with ~550 FICO

• No VA-set minimum FICO: Some banks set restrictions on credit scores, and we choose to work with lenders that fully comply with VA’s guidelines.
• No down payment (0% down) unless you don’t have full entitlement.
• Flexible DTI if the leftover income aligns with the VA’s minimum standards.
• No monthly mortgage insurance, which saves you more in monthly payments compared to FHA.

Strengthen Low-Score VA Files

Show stable income and sufficient residual income after all expenses.

• Show on-time rent (VOR) and a clean 12-month history on important accounts.
• Letters of explanation for their credit history that show they have had hardships (job loss, medical issues, divorce).
• If a bank told you no due to overlays, get a second look.
• VA’s actual guidelines are often more flexible than those of retail lenders.

Non-QM And Other Programs For 550 FICO in Virginia

Non-QM (Non-Qualified Mortgage) loans help people who do not meet the standard criteria for a loan. These loans usually are more flexible with credit.

• Minimum Credit Score: Some non-QM programs allow down to 550.
• Benefits: More flexible income and credit requirements and would be useful for self-employed people or people who have had recent credit problems.
• Considerations: You may have a higher interest rate and be faced with a larger down payment.
• Non-QM (Non-qualified mortgage) programs also step in when FHA or VA loans are not suitable.
• Bank-statement loans (self-employed).
• Instead of tax returns, qualify with business or personal bank deposits (12-24 months in length).
• DSCR Investor Loans: These loans allow you to qualify based on the expected property cash flow (rent ÷ payment).
• Great for investors with credit blemishes.

Recent Housing Events: Loans

• Loans with flexible waiting periods are offered after Bankruptcy, foreclosure, deed-in-lieu, or short sale.

Interest-Only Options

• These loans allow you to reduce your payment to qualify or to improve cash flow (but be aware of the trade-offs).

Keep in mind that Non-QM loans typically require larger down payments and significantly higher rates compared to FHA and VA loans. But this option can be a good way to buy a home and improve your credit.

When Conventional Loans In Virginia Still Make Sense

Conventional loans typically require higher credit scores (620+). However, suppose you’re close and have a strong file with low DTI, solid reserves, and limited risk. In that case, the loans are much better—conventional loans also lower long-term costs by eliminating FHA’s upfront and monthly mortgage insurance. Either way, we’ll price both.

Manual Underwriting: Your Secret Weapon at 550 FICO

• Automated underwriting, such as DU/LP, can be very strict.
• Manual underwriters, however, can review the whole story, even the stuff that might not fit the mold.

What Manual UW Looks For

• Verified, on-time rent for 12 months \VOR or canceled checks.
• Tight DTI but with space for normal life expenses.
• Compensating Factors: Savings, extra income, working the same job for a while, or residual income that isn’t on the minimums.
• Satisfactory explanations for late payments with evidence. Make sure the issue is resolved.
• Manual underwriting can be the difference between denial and a clear to close..
• Rebuild While You Buy: Credit Moves That Matter in 30 to 90 Days.
• Dispute cleanup: Remove all the little disputes before underwriting.
• FHA/VA often requires it.
• Utilization tune-up: Reduce all revolving balances to 30% of each limit.
• 10% is even better.
• Add positive trade lines: Fast secured card(s) or credit-builder loans. Kill the streak.
• For housing and major credit lines, no new late payments for 12 months.
• Avoid new debt: During the mortgage process, refrain from opening store cards, auto loans, or Buy Now, Pay Later options.
• We will focus on specific credit-improvement goals that will move the AUS or manual UW needle, as opposed to generic advice that will waste time.

Funding Down Payment & Closing Costs: Practical Solutions

• FHA 3.5% down (580+) or 10% down (500–579).
• VA 0% down with entitlement.
• However, closing costs may be covered by seller credits or lender pricing.
• Gift Programs on many programs (properly documented).
• The seller will provide credits to cover closing costs and prepaids (please request the proper amount, and we will assist in structuring your contract).
• Help with Closing Costs Programs: Certain buyers in Virginia may qualify for down payment assistance through state or local programs.
• We will assist in determining what is available for your profile.

Income & Documents: Pre-Organizing

• Photo ID & Social Security card (or equivalent).
• 30-60 days’ pay stub and two years of W-2s (or full self-employment docs/bank statements for Non-QM).
• Two months of bank statements (all pages).
• Landlord verification (VOR form, 12 canceled checks, or Zelle receipts).
• Credit Events explanation letters, gaps in address, or gaps in employment.
• If applicable, Bankruptcy and/or foreclosure papers
• Pro Tip: Send complete, legible docs the first time.
• When the file is clean, the underwriting speed and approvals improve.

DTI Goals and Payment Strategies for Lower Scores

Lower scores indicate that the underwriter will require additional documentation to demonstrate your ability to manage the new payment without difficulty.

Try to aim for a DTI of less than 43 percent on manual underwrites.

• Escrows included: Your monthly payment will cover principal, interest, taxes, and insurance—work your budget around the full payment.
• Get a pre-approval first: We will calculate realistic numbers for homes within your budget so you can shop for homes without worry.
• After You Get Your Keys: Preparing to Refinance and Your Equity Strategy.
• Get ready to refinance after your credit scores have increased and the mortgage has aged for 6 to 12 months (Non-QM) or longer, for the best pricing.
• Keep an eye on any options to exit PMI or MIP:** FHA has ongoing MIP.
• However, in the future, moving to a conventional loan can decrease your monthly payment.
• Don’t let your on-time payment streak be broken: 12 consecutive payments made on time for your mortgage loan is the best way to unlock better mortgage pricing and terms on your future loans.

Most Common Credit Issues We Help You Tackle in Virginia

• Old medical collections that negatively impact your credit score or your DTI.
• Student loans that are in forbearance, IDR, or default (program-specific calculations).
• Minor employment gaps or recent job switches.
• No traditional credit score history (we can assist you in building a credit score).
• A history of Bankruptcy, foreclosure, deed-in-lieu, or short sale.
• We can coordinate the waiting period rules to match a loan type that best suits you.

What You Must Do Next (15 Minutes)

• Call 800-900-8569 or apply virtually to begin the pre-qualification process.
• Submit minimal documentation to compare FHA, VA, and Non-QM loan estimates.
• Receive a personalized credit improvement plan to quickly improve your chances of getting approved.
• Browse homes with a robust pre-approval letter designed for your local market in Virginia.

We are here to help you wherever you are located in Virginia, whether that be Richmond, Hampton Roads, Northern Virginia, the Shenandoah Valley, or any of the other areas, to guide you from “credit challenged” to clear-to-close.

You Can Purchase a House in Virginia with a 550 FICO

Suppose you are having trouble getting approved with other lenders. In that case, it is usually caused by lender overlays, which differ from the guidelines established by the FHA or VA. When we strategically review a file, utilize manual underwriting, and have access to Non-QM options, home loans in Virginia for individuals with poor credit and FICO scores as low as 550 become attainable.

If you would like to speak with an expert in this field, Please Call.

• Gustan Cho Associates — 800-900-8569
• Same-day pre-qualifications available. No Overlays on government-backed loans.

Best Mortgage Lenders For Bad Credit Home Loans in Virginia

FHA mortgage borrowers can qualify for FHA Loans with the following debt-to-income ratios. To get an approve/eligible per AUS FINDINGS, the maximum front-end debt to income ratio cannot exceed 46.9% DTI. The maximum back-end debt to income ratios cannot exceed 56.9% DTI for AUS Approval. Florida home buyers who need to qualify for FHA Loans with a lender with no overlays, contact us at Gustan Cho Associates at 800-900-8569 or text us for a faster response. Or email us your mortgage inquiries at gcho@gustancho.com. The team at Gustan Cho Associates is available 7 days a week, on evenings, weekends, and holidays.