Your credit matters — but it’s not the only thing that determines approval.

If you’re worried your credit score is too low to qualify for a mortgage, you might be overlooking the bigger picture.

👉 While credit is important, it’s only one piece of the puzzle.

At PRMI, we look beyond your score to understand your financial story — and build a loan strategy that reflects where you are now, not where you’ve been.

Here’s what lenders actually look at when reviewing your mortgage application — especially if your credit is less than perfect.

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✅ 1. Income and Employment History

Stable income is one of the strongest compensating factors if your credit is challenged.

Lenders look for:

• At least 2 years of consistent employment (with gaps explained)
• W-2 income, 1099 income, or self-employed income with documentation
• Overtime, commissions, and side income — if it’s consistent and verifiable

📘 Even if your credit isn’t ideal, strong income can help balance the file.

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✅ 2. Debt-to-Income Ratio (DTI)

This shows how much of your monthly income goes toward debt.

Lenders prefer:

• 43% or lower for conventional
• Up to 50% allowed for FHA in many cases
• Higher DTI is possible with compensating factors

💡 If your credit is low but your DTI is under control, you may still qualify — especially with FHA.

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✅ 3. Payment History

Your recent payment behavior matters more than old mistakes.

We look for:

• 12-month history of on-time rent payments
• No new major delinquencies
• Effort toward rebuilding — even partial payments help

Even if you had trouble in the past, recent responsible behavior builds a stronger case.

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✅ 4. Cash Reserves & Down Payment

Having savings can strengthen your file — even if it’s not a large amount.

Lenders value:

• Emergency savings or “reserves”
• Down payment funds from your account or gifts
• Willingness to put more down if your score is below 580

📘 We’ll help you structure your file based on what you do have — not just what’s missing.

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✅ 5. Letter of Explanation (LOE)

Sometimes, life happens — and lenders understand that.

A well-written Letter of Explanation can help justify:

• Past credit events (collections, late payments, bankruptcy, etc.)
• Job gaps, income changes, or short credit history
• Medical debt, family emergencies, or other context

✅ PRMI helps you write clear, effective letters that speak to the underwriter’s concerns.

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🧠 The Bottom Line

Your credit score is important — but it’s not a yes-or-no number.

We look at: ✔️ Your recent efforts
✔️ Your income and stability
✔️ Your full financial profile
✔️ How well the loan fits into your long-term success

You don’t need perfection — you just need a plan.

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🏢 Why PRMI?

We’re not here to judge your credit.
We’re here to help you qualify anyway — with:

• Flexible FHA and Non-QM programs
• Manual underwriting for complex or credit-challenged files
• Real guidance, real approval paths, and real conversations

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👇 Wondering If You Qualify Even With Low Credit?

Let’s look at your whole financial picture, not just your score — and show you a realistic plan to buy or get ready.