FHA & VA Manual Underwriting Down to 500 Credit Score
Charlotte's banking professionals know credit — but when your own score drops from lifestyle expenses, your employer's mortgage division won't help. We manually underwrite FHA and VA loans when Bank of America and Wells Fargo say no.
Joe Shalaby
Founder & Senior Loan Officer
NMLS #139369
"I work with a lot of Charlotte banking professionals who can't get a mortgage from their own employer. The irony isn't lost on me. High income, high lifestyle, high credit card balances — your score dropped but your ability to pay didn't. That's what manual underwriting fixes."
Why Charlotte Homeowners Need Manual Underwriting
Banking City Lifestyle
Charlotte is the second-largest banking center in the US. High incomes, high expectations, high credit card balances. When utilization spikes, scores drop fast.
Rapid Appreciation
Myers Park and Ballantyne homes have appreciated 40%+ in 5 years. Great for equity, but higher payments stretch budgets and credit.
Debt Consolidation
Use your equity to pay off credit cards. Lower monthly payments, rebuild your score, get your financial life back on track.
FHA Manual Underwriting
- Credit scores down to 500 FICO
- 3.5% down with 580+ score
- No overlays on collections
- DTI up to 50% with compensating factors
VA Manual Underwriting
- No minimum credit score
- $0 down, no PMI
- Fort Liberty veterans welcome
- Residual income calculation
Recent Closings in Charlotte
FHA purchase — bank executive with $65k credit card debt. Denied by his own employer. Manual underwriting approved.
Army veteran from Fort Liberty. Credit dropped after deployment. $0 down, no PMI, closed in 28 days.
Paid off $72k in credit cards. Monthly payments dropped $2,100. Score recovered to 715 in 5 months.
FHA & VA Loan Questions for Charlotte
Can I get an FHA loan in Charlotte with a 520 credit score?
Yes. We manually underwrite FHA loans down to 500 FICO in Charlotte, Myers Park, Ballantyne, and South Charlotte. Most banks stop at 620-640.
What's the FHA loan limit in Mecklenburg County?
For 2025, the FHA limit in Mecklenburg County is $524,225 for a single-family home. We handle these daily.
Do you offer VA loans with manual underwriting in North Carolina?
Absolutely. We're one of the few lenders doing VA manual underwriting. No minimum credit score, $0 down, no PMI. Great for Fort Liberty veterans.