Answers (15)
- Chip Streater, "TarheelChip"
- Contributions:10447
Victor is on a roll today.......
- Potato Head
- Contributions:131
Holy Schnikes! Victor you are funny. Chaotic-do you know what that means? I'm not seeing chaotic.
And by the way, it's apologize....not apologies.
[inappropriate comment, removed by moderator]
And by the way, it's apologize....not apologies.
[inappropriate comment, removed by moderator]
Sir,
I apologies for her chaotic behavior not all of us
"Lenders" are like this.
I apologies for her chaotic behavior not all of us
"Lenders" are like this.
- Tammy Stockdale, "Colorado Mtg Broker"
- Contributions:6995
I don't need to read his title as he does not have one Vic. However, he was nice enough to indicate on his post where he was located at. That would be Los Angeles, CA, or could you not read that?
- Tammy Stockdale, "Colorado Mtg Broker"
- Contributions:6995
Vic, why mention NJ when the borrower is obviously in CA?
We as Direct lenders will only do a 620.
BUT I have a bank who'll do 560 on NJ purchases only.
BUT I have a bank who'll do 560 on NJ purchases only.
- Timothy Sutherland, "SunTrust"
- Contributions:619
FHA does not have a credit score minimum. However, each lender can make their own requirement on that and many these days are looking for at least 600 though others require a 620, a 640 or even a 660.
- Patrick Wingate, "pwingate"
- Contributions:22
Hi Philip,
694 is sufficient and today you can secure a 4.875% w/ zero buydowns. FHA is an awesome option especially w/ your down payment concerns. Have you been pre-approved?
694 is sufficient and today you can secure a 4.875% w/ zero buydowns. FHA is an awesome option especially w/ your down payment concerns. Have you been pre-approved?
- Mickey Ballantine, "Mickeymortgage"
- Contributions:57
Okay the more information provided the more detailed the answer. But either way your score will allow you to qualify for an FHA.
- Philip Ma, "nomadicon"
- Contributions:7
Mickey,
the reason why i didn't do a conformal loan is because the lack of down payment.
regards,
-Philip
the reason why i didn't do a conformal loan is because the lack of down payment.
regards,
-Philip
- Mickey Ballantine, "Mickeymortgage"
- Contributions:57
620 is the minimum. You may be better off in a conventional loan. Why FHA?
- Mike at ENG LENDING
- Contributions:20
Most lenders are still at 620 Median while others have increased their requirements to 660 median. HUD has no requirement, however Lenders make the loan (not HUD) and the lenders take 75% of the risk on the loan if it were to go in default...as a result their requirements supercede and/or are equally important to those set forth by HUD
- Kevin Toups, "TabascoKajun"
- Contributions:110
90% of mortgage companies use 620 as a lender overlay, not really FHA's rule.
- Nic Netherton, "Colorado Lender"
- Contributions:7331
Yes that is sufficient.
What is the minimum required credit score for an FHA loan?
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