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

Tag Archives: FICO scores

FICO Scores And FHA Loan Approval

How do FICO scores affect your FHA home loan application? A reader got in touch this week to ask a question in this area: “Hello, my credit score is between high 500s, low600s. I make $8,000 a month. My mother ...

FICO Scores and FHA Loans: A Reader Question

Can a co-borrower make up for another borrower’s FICO score issues? A reader asked us a question along those lines in our comments section recently: “My credit is not good enough to get a home loan. However, if my sister ...

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plenty of time in the pre-purchase planning stages to review credit report details to make sure there are no errors or outdated information.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 ...

Credit Score Questions

Credit score issues are some of the most popular topics in our comments section-many want to know if their FICO scores are high enough to qualify for an FHA mortgage. One reader asked recently, “(Can) i can buy a (home ...

Credit Score Rules For FHA Mortgages

mortgage loan and business debt

There’s a common reader question about credit score rules for FHA mortgage loans that we get from time to time that goes something like this: “Is it possible to have a low credit score (500-600) and still get an FHA ...

FHA Loan FICO Score Rules: What You Should Know

What does it take to get approved for an FHA mortgage? There are a variety of factors that go into mortgage loan approval, and the borrower’s FICO score is just one of those factors. However, your credit report and credit ...

FHA Loans and 401K Income

A reader got in touch with us recently in the comments section to ask a question about 401K retirement income as it relates to FHA loan approval. “Does the fact that you have a 401k count as income or does ...

FHA Loans and Social Security Income: A Reader Question

FHA loan

A reader asks, “I am halfway though a 15 year mortgage on a 2009 manufactured home. I am disabled, collecting SSD and my wife works as a school teacher.Would I qualify to refinance my home?” FHA loans and refinance loans ...

FHA Loan Questions: Credit Scores and Down Payments

We get many questions about FHA loan standards for FICO scores and similar issues. Here’s one of the latest: “I am looking to purchase a mobile home for 25000. I have a 610 credit score and a stable job (been ...

Mortgage Rate Trends: Lower After Jobs Report

Mortgage Loan Rate Trends

Ever since the Fed began discussing the possibility of another interest rate hike, we’ve seen upward pressure on mortgage loan interest rates. 30-year fixed rate conventional mortgage loan interest rates had fallen as low as 3.5% for some of the ...