Articles and news about FHA loans and HUD requirements. FHA loans are great for first-time homebuyers.

Tag Archives: credit check

Credit Report Data, Disputed Accounts, and FHA Loans

Borrowers are often advised to give themselves plenty of time in the pre-purchase planning stages to review credit report details to make sure there are no errors or outdated information. What happens if a borrower does see something on a ...

FHA Loan FICO Score Rules

FICO scores play an important part in any home loan application. There is often confusion about FICO scores, with some applicants assuming that only FICO scores determine loan approval, while others wrongly assuming they only have one credit score. What’s ...

FHA Home Loan Questions: FICO Scores

A reader got in touch recently in the comments section to ask a question about FICO scores and FHA home loan applications. “My new wife’s credit score is 749 and mine is 620 due to an ugly divorce and transfer ...

FHA Loan Requirements For Credit Checks, Documentation

FHA loan rules require your loan officer to perform credit and employment checks, examine the source of down payment funds, and verify your income. In order to accomplish this, the FHA requires the lender to get documentation from the source; ...

FHA Loan Rules For Loan Approval: Previous Housing Obligations and Your Credit

When you fill out your FHA loan application paperwork online or in person, it’s obvious that part of the qualification process involves having your credit scores examined and your employment verified. What may not be so obvious is that the ...

Reader Question: Preparing for an FHA Home Loan

When it’s time to apply for an FHA home loan, your credit score is an important part of the application. Participating FHA lenders examine your credit history and the score you currently have to make a determination about your creditworthiness ...

FHA Loans: What Is The Ideal Credit Score?

Many readers write us asking questions about FHA loans. We field questions about bankruptcy, foreclosure, loan default, and many others. We also get plenty of questions about credit scores, qualifying for FHA home loans in general, and what it takes ...

Credit Report Requirements for FHA Home Loans

To be processed by a lender, FHA home loan applications require detailed credit information from the three major credit reporting agencies. The lender uses these reports to determine that an FHA loan applicant meets the minimum credit requirements for a ...

FHA Title I Home Improvement Loans

If you explore FHA home loan options, you’ll find a variety of them–there are loans for new purchase mortgages, but also options for energy efficient mortgages, home equity conversion loans, rehab loans, and something called the FHA Title I Home ...

FHA Loan Applicants With Little Or No Credit History

A reader sent in a question about credit history, asking if a lack of credit was grounds for disqualifying an FHA home loan application. It would be easy to assume the answer to that questions is “Yes”, but a quick ...