Posted on: 11th Aug, 2009 05:45 pm
Can i go for a fha loan as long as i have 630 fico... i also have good income and good work history.
Hi, Having a 630 fico is enough for an fha loan as they only require 620 minimum fico score. Having good income and good work history is 2 of the other things they will look for. They will also want to see recent pay stubs and bank statements.
Guesy
You can for sure go for FHA loan.
Make sure your DTI is not high
Good luck and feel free to ask
You can for sure go for FHA loan.
Make sure your DTI is not high
Good luck and feel free to ask
620 and above credit scores qualify for FHA. With FHA, there is a 3.5% down payment requirement (which may be a gift).
As stated above there are other factors like income and assets. The lender may also require 12 months rent verification. The amount you qualify for will be dependent upon your income compared to your debts as well as the mortgage payment to be carried.
As stated above there are other factors like income and assets. The lender may also require 12 months rent verification. The amount you qualify for will be dependent upon your income compared to your debts as well as the mortgage payment to be carried.
