Posted on: 01st Mar, 2010 12:51 pm
My husband has a 610 fico score and we are trying to get an fha home loan. We were pre approved through wells fargo but Bank of america is saying the min is 620. Who is right and where do they get thier guidlines?.
Every bank is different. Those larger banks are not very flexible. I work with lenders who will go well below 620 but they do not lend in ecery state. Lots of regional banks are that way.
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Most banks require a 620-640 minimum credit score. There are still several of us that can go below but, it needs to be a strong file. They usually want to see active credit with on time payments, proof of rent history, solid employment etc.
Hi there, Yes I have access to FHA FICO down to 530, not all states though, even have a NO FICO program for FHA. ALso have Stated VOE programs and Stated Self Employed Programs. Thanks
