Orange, Calif.-based Broadview Mortgage has announced their Community Access program as an alternative to Federal Housing Administration (FHA) loans.
According to the company, the underwriting guidelines for the Community Access program require that borrowers have a minimum 680 middle FICO credit score as well as a 3% down payment. Federal FHA loans require 3.5% down payments but allow credit scores as low as 620.
‘It's a safe, conventional Fannie Mae alternative to FHA,’ says Chris Apodaca, assistant director of branch development at Broadview Mortgage.
