The minimum credit score required to get a conventional loan with most lenders is 620, however with NEXA Mortgage, effective October 8th of 2021 new lower FICO of 580 for conforming loan products is available.
A conventional loan is the most common mortgage, it is surprisingly difficult to get Dave Malone can help you.
I was born and raised in the greater Sacramento area of California. On Labor Day 2018 my wife, nephew (who we raised) and I moved to Nashville to start a new journey. Shortly after that my brother Jerry followed then in January 2021 our other nephew moved here and became a Nashville firefighter. I owned a commercial and retail floor covering company with 3 locations and made the Sacramento Business Journal’s fastest growing company business journal. I sold the business then bought a bar which was I put for sale almost as fast as I bought. I didn’t enjoy babysitting adults.
I have done several marathons supporting the leukemia lymphoma society which is close to my heart as my dad passed away from leukemia when I was 12. My longest run to date was the American River 50 miler. I have also done a few ½ Ironman triathlons. My wife and I love traveling particularly on a beach. We got married in Cabo on the beach. I enjoy watching football, hockey, and motocross. I love summers and being on the water. Wakeboarding, boating, and jet skis. Top the list.
I have been involved in real estate my entire life, my grandparents owned land that they would lease to farmers and commercial buildings they rented out. My parents and their friends had several rentals. I purchased my 1st house when I was 21 and since have built a small rental portfolio along with flipping a couple of houses per year. I am passionate about real estate which is why I decided to get into the mortgage industry. I love helping others,,,,, How Can I Help You?
What is your personal schedule/working availability, do you work evenings and weekends?
9 am to 9 pm 7 days a week. Will schedule availability outside these time frames if needed.
What is your average response time to calling back a lead for a pre-qualification? 5 Minutes
Once you have run someone’s credit and collected the necessary documentation, what is your average turnaround time to review the file and issue a prequal letter?
One hour – but I must have all needed documentation prior.
What is your average closing ratio, the percent you close, on prequals you have personally issued once they are under contract?
What are the main loan programs that you offer?
Being a mortgage broker, we have almost any loan imaginable. We even do smaller commercial loans and reverse mortgages.
If someone needs credit repair, do you have a way to assist with that and stay in touch with them throughout the process?
We have a company that we use that offers a free consultation.
What are the lowest credit scores you are able to get a loan approved on?
We can go as low as a 520-credit score with 10 percent down.
On leads to get pre-qualified, what is your follow-up process to ensure the lead does not slip through the cracks?
I have an amazing CRM that does some client follow up automatically as well as alerts are set to remind me to personally follow up.
When the docs have been signed, what is your average turnaround time to fund the loan?
If you like to do Client Parties and Client Appreciation Events, we are willing to co-host some of these events with you.
What is your follow-up process/updating process with the Realtor on the file?
Weekly updates at a minimum with the preferred method of the realtor. Ie: call, text, email
If there anything else that I did not answer that you feel is important for you to know and/or that I should have answered, please feel free to ask me.