Data Integrity: Protect Yourself From Fraud:

Data integrity is key in today’s environment.  I came across this great article about how to protect our data in today’s environment and I thought I would share.  It’s really important that we follow these steps ahead of time to help avoid being a victim.

Protect Yourself From Fraud In 2018



Can I still get a mortgage if I have been a victim of identity theft?

Yes you can.  However, it will take you a while to get your credit cleaned up and depending upon the damage that is done to your credit report it may take you awhile before you can apply.  Typically, most people will end up obtaining either an FHA loan or a VA loan if they have VA benefits.  Both of these loan products are government sponsored loan products.  They each offer more flexible underwriting and qualifying guidelines which help you purchase a new home quicker.  Conventional and Jumbo loans aren’t as flexible as government loans.


Credit Score Requirements:

On an FHa loan, we require a middle fico score of 580 and you will be required to put 3.5% down on  your down payment.  Don’t have any down payment money?  FHA loan allow an immediate family member to gift you your down payment money during the loan process.  If you have VA benefits, a VA loan is a better way to go because VA loans do not require any down payment.  Nor do they require any monthly mortgage insurance.  Our lowest VA loan requires a middle fico score of 580 to qualify. However, most of our lenders do require a middle fico score of 620 or higher.  Some even want a 640 middle fico score to qualify.  Remember, the higher the middle fico score the better the interest rate which means the lower your monthly mortgage payment. Sometimes, it’s better to wait a few months to clean up your credit score before you apply for a home mortgage loan so that your interest rate is lower.


Article 1:  Data Integrity


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