Finding A Mortgage


Mortgage brokers and the chief operating officer of a local bank said the mortgage meltdown has slowed down the housing industry but people with less then perfect credit can still get mortgages.
Luke Mathews is president the Mathews Financial Group. He’s been a mortgage broker for years. Even those with less than perfect credit are getting new home loans.

“Credit scores as low as 530 are currently getting loans with reasonable rates and reasonable programs that are available to everyone,” Mathews said. “FHA (Federal Housing Administration) offers less then conventional programs with very reasonable interest rates.”
Mathews said he’s still putting people in homes with low credit scores but it’s not as easy as it was prior to the mortgage meltdown. Ken Doolittle is the chief operating officer for Pennstar Bank. He admits that local banks like Pennstar don’t have the endless amount of investors to borrow from that brokers do so credit scores have to be a little higher but Pennstar is still writing mortgages for customers with credit scores well below 800.
“Right now today, credit scores as low as 630 or 640 can be approved through us. In addition to credit score there are other factors like down payment,” Doolittle explained.
Ninety-five percent of Americans have a credit score below 800.

About Luke Ford

Raised a Seventh-Day Adventist at Avondale College in Australia, Luke Ford moved to California in 1977. He graduated from Placer High School in 1984, reported the news at KAHI/KHYL radio for three years, attended Sierra College and UCLA, was largely bedridden by Chronic Fatigue Syndrome for six years, and converted to Judaism in 1993. From 1997-2007, Luke made his living from blogging. Living by Beverly Hills (, he now teaches the Alexander Technique (moving the way the body likes to move). Lessons cost $100 each and last about 45 minutes. In 2011, Luke completed a three-year teaching course at the Alexander Training Institute of Los Angeles. His personal Alexander Technique website is Luke is the author of five books, including: » The Producers: Profiles in Frustration » Yesterday’s News Tomorrow: Inside American Jewish Journalism
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