Conventional and VA loans are now allowing Vantage scores. This is making a difference for my current client.
The Situation
My client has a 617 middle Fico score.
His credit cards are maxed out
He had a couple 30-day late payments about 10/11 months ago on revolving debt.
The mortgage history is on-time.
The Challenge
His property needs some repairs, so FHA is not an option.
He has equity and needs to pay off some debt, but the fico score is causing issues. He was referred to me by a banker LO friend because it didn’t fit in their box.
How We Structured It
Conventional cash-out refinance/debt consolidation using DU approved/eligible findings and 645 Vantage score.
70% LTV
Ignored the low Fico and the loan is in-process right now using Vantage.
Why This Might Matter
Vantage score adoption is not widespread, but might save a deal. Lower fico scores can be a dealbreaker for approval or for pricing.
Pattern To Watch For
Credit scores (fico) under 640 with on-time mortgage history
Decent credit history, but doesn’t have to be perfect.
Strong equity position.
Borrowers who need debt consolidation but don't meet your credit minimums
If your client has slightly bumpy credit but they've been paying their mortgage on time and have good equity, there's often a way to structure it.
Work With Me
Do you have a deal that doesn’t fit your credit policy but the client seems solid?
Reply to this email or call me at 616.298.2743 for a same-day answer.
What I Specialize In
HELOCs (complex income, credit issues, or property condition challenges)
VA loans with high DTI or non-traditional income
Low credit scores with compensating factors (equity, down payment, strong income)
Recent self-employment with documentable income
Non-QM and investor DSCR loans
Construction loans that are outside-the-box (investment property, FHA, VA construction, or large renovation projects)
What I Typically Don’t Do
Manufactured homes under $150K loan amount
Raw land purchases
Construction loans under $300K
One case study per week showing scenarios we’ve been able to help with