Low credit scores? Use Manual Underwriting

🛠️ DIY Credit repair - https://tr.ee/kV0hM4 #texasrealestate #texashomes #mortgagetips
If your credit scores are in the 500 to 600 range and you want to buy a house, this video explains how manual underwriting and the FHA loan program can help you achieve your goal. Manual underwriting is for applicants with past credit issues. Key topics include understanding manual underwrites, focusing on creditworthiness, the significance of the most recent 12 months of financial activity, and strategies to improve and document credit history. We also discuss why disputing credit incorrectly can cause significant problems, the value of honesty in the lending process, and tips on maintaining a solid credit record in preparation for a home purchase. This guide educates potential homebuyers on preparing for and successfully navigating the manual written FHA loan approval, regardless of past credit challenges.

00:00 Introduction to FHA Loans for Low Credit Scores
00:28 Understanding Manual Underwrites
01:14 Focusing on Credit Worthiness
04:23 The Importance of Rental History and Documentable Payments
05:58 Explaining the 'Why' Behind Credit Evaluation
07:17 Addressing Common Excuses and Valid Reasons for Credit Issues
11:35 Practical Steps to Improve Your Credit for Home Buying
16:35 Final Thoughts and Next Steps

NMLS 180100 | 115140