580 – 640 Loan Programs

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At Cornerstone First Financial, we pride ourselves on being able to accomplish closing loans that other institutions cannot. With our broad range of programs and lending partnerships, we are your first choice for alternative types of financing that big banks consistently turn down. While most banks stop considering loan approvals at a below 640 credit score, at Cornerstone First, we have the ability to go to 580 on both VA and FHA Loans.

That is correct! Our 580 – 640 loan programs can result in loan approvals with a 580 credit score, for purchase or refinance! If you have been told that you are disqualified due to low credit score or challenged credit, then contact Cornerstone First Financial today to see what we can do for you.

mortgage home loan lending low credit score, poor challenged subprime bad credit 580 - 640 loan programs chart

Highlights of 580 – 640 Loan Programs include:

FHA Loan Highlights:

– Minimum credit score 560
– 55+ % DTI allowed
– Manual Underwrites
– 20% Appreciation allowed
– Back to Work program
– Blended ratios allowed
– Fixed Rates and ARMs
– Manufactured Homes are eligible

VA Loan Highlights:

– Minimum credit score 560
– 55+ % DTI allowed
– IRRRL with or without Appraisal
– 100% LTV Cash Out
– Manual Underwrites
– Fixed Rates and ARMs
– Foreclosure / Short Sale / Bankruptcy
– Manufactured Homes are eligible

No matter what you call it – low credit score, subprime credit, challenged credit, bad credit, poor credit – a below 640 credit score doesn’t mean that you can’t achieve your dream of home ownership. At Cornerstone First Financial, we will work with you to provide any mortgage / loan / lending options that apply to your unique situation. Since 2002, we’ve been helping people from all walks of life purchase homes.

Cornerstone First Financial is a home loan broker and lender* serving Washington DC, Maryland, Virginia, Georgia, Florida, Colorado, and California with mortgage, FHA and VA streamline refinance loans, home improvement loans, HECM / reverse mortgage loans, and more.

That’s right! Cornerstone First Financial started in the Washington DC area in 2001, but has grown to serve home buyers and homeowners in Maryland, Virginia, Georgia, Florida, Colorado, and California in recent years.

*Cornerstone First Financial is a licensed broker in Washington DC, Maryland, Virginia, Georgia, Florida, Colorado, and California, and a licensed lender in Washington DC, Maryland, Virginia, and Georgia.