Not exact matches
It will also help to have a
verifiable source of
income, whether through personal employment or some
other source.
You can qualify for an FHA loan with a score lower than 580 if you can swing a higher down payment; a score as low as 500 may be enough if you also have a 10 % down payment and
other favorable factors like stable employment history and
verifiable income.
Say you have $ 6,000 a month in
verifiable income, but your auto loans, credit cards, student loans and
other monthly credit obligations come to $ 1,000.
I'm getting all the people with sob stories, who barely make the minimum 3X rent, have past bankruptcies, have unreliable rental history (renting from family, or
other «landlords» that seem questionable), people who smoke, illegal immigrants who work under the table and don't have
verifiable income, etc. (the list goes on).