FHA & VA Loans with Manual Underwriting Down to 500 Credit Score
Overextended on credit cards? Credit score took a hit? Big banks in Alpharetta won't touch you, but we specialize in manual underwriting for FHA and VA loans. We close deals every week that Chase, Wells Fargo, and local credit unions deny.
Joe Shalaby
Founder & Senior Loan Officer
NMLS #139369
"I see it all the time in Alpharetta and Johns Creek — successful professionals with $200k+ incomes who've maxed out credit cards and now can't qualify at their bank. Your credit score dropped, but your income didn't. That's exactly what manual underwriting is for."
Why Alpharetta & Johns Creek Homeowners Need Manual Underwriting
North Fulton County has some of Georgia's highest home values and household incomes. But with that comes lifestyle creep — expensive cars, private schools, country club memberships. When credit cards get maxed out, your credit score drops, and suddenly the bank that approved you 5 years ago won't return your calls.
High Credit Card Utilization
Maxed out cards tank your score even with perfect payment history. Manual underwriting looks at the full picture — your income, assets, and payment history matter more than utilization.
High-Value Properties
Alpharetta median home price is $650k+. FHA high-balance limits let us finance up to $546,250. For higher amounts, we have NON-QM options with manual underwriting.
Debt Consolidation
Cash-out refinance to pay off credit cards, lower your monthly payments, and rebuild your credit score. We call it the Clean Slate Program.
FHA & VA Manual Underwriting Specialists
FHA Manual Underwriting
- Credit scores down to 500 FICO with 10% down
- Credit scores 580+ with just 3.5% down
- No overlays on collections or charge-offs
- 2 years post-bankruptcy, 3 years post-foreclosure
- DTI up to 50% with compensating factors
- Gift funds allowed for entire down payment
VA Manual Underwriting
- No minimum credit score with manual underwriting
- $0 down payment — 100% financing
- No PMI ever — significant monthly savings
- Residual income calculation favors higher earners
- 2 years post-bankruptcy, 2 years post-foreclosure
- Active duty, veterans, reserves, and surviving spouses
Recent Closings in Alpharetta & Johns Creek
Real deals we closed. Banks denied them. We didn't.
FHA purchase — borrower had $45k in credit card debt, denied by Wells Fargo. Manual underwriting approved with strong income and 12-month rent history.
VA purchase for Army veteran — credit tanked after divorce. Manual underwriting with residual income calculation. $0 down, no PMI.
Debt consolidation — paid off $62k in credit cards. Monthly payments dropped $1,800. Credit score recovered to 720+ within 6 months.
FHA & VA Loan Questions for Alpharetta & Johns Creek
Can I get an FHA loan in Alpharetta with a 520 credit score?
Yes. We manually underwrite FHA loans down to 500 FICO in Alpharetta and Johns Creek. Most lenders stop at 620-640 because of overlays. We don't have those restrictions.
Do you offer VA loans with manual underwriting in Georgia?
Absolutely. We're one of the few lenders that manually underwrite VA loans. If you're a veteran with credit challenges, we can often get you approved when others can't. VA has no minimum credit score requirement with manual underwriting.
I have high credit card debt but good income. Can I still qualify?
Yes. High DTI from credit cards is common in affluent areas like Alpharetta. We can do cash-out refinances to consolidate debt, or use manual underwriting to approve higher DTI ratios with compensating factors like reserves, residual income, or minimal payment shock.
What's the maximum FHA loan amount in Fulton County?
For 2025, the FHA high-balance limit in Fulton County (which includes Alpharetta and Johns Creek) is $546,250 for a single-family home. We handle these regularly.
How long after bankruptcy can I get an FHA or VA loan?
FHA: 2 years from Chapter 7 discharge, 1 year into Chapter 13 with court approval. VA: 2 years from Chapter 7, can be during Chapter 13 with court approval. We've closed both scenarios in the Atlanta metro.