VA and FHA Reduced Loan Fees Even With Low Credit and Scores to 500


VA and FHA Reduced Loan Fees The VA and FHA both reduced their fees resulting in lower loan amounts and payments.  FHA reduced their MIP effective February 22, 2023, and the VA shortly after reduced their funding fee effective April 7, 2023.   The reduced fees apply to automated approved and manually underwritten loans even down…

Read More

VA Loans. Low Credit and 500 Credit Scores. With Reduced Funding Fees.

wooden home with family playing in background

At Access Capital Group, we are qualifying VA Loans with Low Credit, 500 Credit Scores, Manual Underwriting and starting April 7,  2023 with a reduced VA Funding Fee. Loan Fee Rates for Loans Closing On or After April 7, 2023 and prior to November 14, 2031   VA Purchase or Construction Loans   Down Payment Amount Funding…

Read More

Lower FHA MIP… even with Low Credit Scores… 500 Minimum Credit Score

MIP Rates applicable for low 500 minimum credit score

On Feb 22, 2023, FHA released mortgagee letter 2023-05 announcing a reduction in the annual mortgage insurance premium (MIP) rates by 30 basis points. The new MIP rates are applicable for all forward FHA mortgages* even with low credit scores and down to a 500 minimum score. Credit Score – A credit score of at least 500 is required.…

Read More

VA Loan Low Credit Score ZERO DOWN LOAN 500 Minimum Credit

Holloman recognizes Month of the Military Child

At Access Capital Group, our VA loan qualifying credit score is 500.  VA does not have a minimum credit score requirement. When a lender requires a minimum credit score it is generally a 620, that is called a lender overlay. An overlay is a lender’s own underwriting guidelines above and beyond the VA guidelines. Access…

Read More

VA Loan – Automated Approval and Manual Underwriting

VA Loan Blog

There are two ways to underwrite your VA loan.  Automated Approval and Manual Underwriting. The easiest and most common is an Automated Approval.  Your VA loan will be underwritten through Fannie Mae (DU) and Freddie Mac (LP) AUS (automated underwriting system).   Depending on the findings from DU or LP will determine if you have an…

Read More

2023 Loan Limits for FHA Mortgages

keys contract

2023 Loan Limits for FHA Mortgages Edit FHA – Closed on or after Jan 1st 2023: For calendar year 2023, the Department of Housing and Urban Development (HUD) announced the following maximum first mortgage loan limits that will apply to FHA loans with case numbers assigned on and after January 1, 2022 through December 31,…

Read More

2023 Loan Limits for Conventional Mortgages

house calc

Conventional – Loans closed on or after Jan 1st 2023: The Federal Housing Finance Agency (FHFA) has issued the following maximum first mortgage loan limits that will apply to conventional loans for acquisition by Fannie Mae / Freddie Mac with a note date on and after January 1, 2023. 2023 Conventional Loan Limits Units Conforming…

Read More

2023 Zero Down VA home loans with NO upper Loan Limits

VA loans

Started in 2020 VA will no longer require a down payment on a house because the value is higher than the conforming loan limit. Zero Down VA loans NO loan limit Jan 1st 2020. Jan 1st 2023 conforming loan limit is $726,200. You buy a house for $1,200,000+ with your VA eligibility and it is…

Read More

Contact Us

Access Capital Group Inc.
202 E. Earll Drive
Suite 460
Phoenix, AZ 85012

Phone: 6026485860


NMLS Consumer Access
NMLS # 33043

Arizona: MB-0904605 | California CFL License: 6038514 Loans made or arranged pursuant to a California Financing Law | Colorado: 20021150081 | Colorado: LMB100026744 | Florida: CL0700723 | Idaho 1st Mortgage: MBL-4501 / NMLS # 33043 | Maryland: #33043 | Minnesota: 20337251 | New Mexico: 01475 | North Carolina License/Registration #: B-213554 | Ohio: RM.804918.000 | Oregon: ML-4188 | South Carolina DCA: #33043 | Texas: SML #34341 | Tennessee: 33043 | Utah: 6360087-MLCO | VA - 919946-0008 | Virginia: MC-7553 | Washington MB-33043 | FHA - 18970-0000-1 and 18790 | Wyoming: MBL-1863