Posted on: 28th May, 2012 01:07 am
Hi there. Please help. Are debts to be paid off within 9 months of closing considered in case of an FHA loan?
If you have debts which you paid off within a given period of time, it will be considered as a positive item when you apply for a loan. This is irrespective of being a conventional or an FHA loan.
Hi Villay!
Welcome to forums!
If you have paid off the debts in full, you won't have to worry about it. It will be considered as a positive item in your credit report. It will be considered while you take out a FHA loan.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
If you have paid off the debts in full, you won't have to worry about it. It will be considered as a positive item in your credit report. It will be considered while you take out a FHA loan.
Feel free to ask if you've further queries.
Sussane