Posted on: 06th Aug, 2009 11:24 pm
Is it true for credit score only i need a score of 620?
Yes mary FHA loans do only require a minimum fico score of 620.
yes, it is true, you require a credit score of 620 to qualify for FHA loan...
Yes, Right now you need minimun 620 credit score for qualifying for FHA loan. They also consider your Debt to Income Ratio as a key parameter,
They consider a lot of other things besides just dti ratio. They will look at bank statements, work history, pay stubs, and yes overall credit score.
yes garry,
only diiference is FHA loan are guarantted by FHA.Every lender has their own rules. some of the main qualifying factors are
Debt-to-income ratio
Credit history
Assets (Cash savings, Investments, Retirement accounts)
Down payment amount
only diiference is FHA loan are guarantted by FHA.Every lender has their own rules. some of the main qualifying factors are
Debt-to-income ratio
Credit history
Assets (Cash savings, Investments, Retirement accounts)
Down payment amount