Posted on: 14th May, 2009 12:58 pm
What is the lowest credit score you can have to successfully get a home loan.
FHA Loans require minumum of 620.
They require you to make a minumum down payment of 3.5% and they will carry MIP ( PMI ). Also there is a upfront MIP of 1.75% of the loan value.
Whats your currenet credit score?
They require you to make a minumum down payment of 3.5% and they will carry MIP ( PMI ). Also there is a upfront MIP of 1.75% of the loan value.
Whats your currenet credit score?
Yes FHA loan of 620 is the lowest around right now. Along with having your debt and other finances in good numbers. Will help you get a loan.
There are some lenders who would be willing to go lower than 620 depending upon the total financial picure... LTV, Income, assets, etc
