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

Tag Archives: FICO

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 Mortgage Facts You Should Know

FHA mortgage loans are a very good option for borrowers looking for a lower down payment and less stringent credit requirements than conventional mortgages. Did you know that FHA home loans do not feature a minimum or maximum income requirement? ...

FHA Loans and Credit Report Issues

FHA home loans offer an alternative to the more strict requirements of conventional mortgages. FHA loans typically feature a lower down payment requirement than many conventional loans, and have more forgiving credit standards (though lender standards will still apply). Some ...

FICO Scores And FHA Loans

Your credit report and FICO scores are very important factors when it comes to getting an FHA loan approved. Do you know what your FICO score is and how it affects your home loan? The U.S. government’s consumer watchdog agency, ...

Mortgage Rate Trends: Slightly Higher On Friday

Mortgage Loan Rate Trends

At the end of the day on Friday, mortgage loan rates had moved higher, but not by much and certainly not enough to pull rates out of territory many are describing as “lowest in years”. In the past week or ...

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 Loan Standards: Charge-Offs and Collections

We’ve gotten several questions in the comments section about certain credit issues related to charge-offs, collections and other forms of derogatory credit information. With those questions in mind it seems like a good time to review the rules as published ...

FHA Refinance Loans And FICO Scores

Are you considering an FHA refinance loan? Are you concerned about your credit scores, or whether and new loan will require a credit check? There are some important issues to keep in mind about FHA refinancing that can help you ...

CFPB Updates Home Mortgage Disclosure Act

Friday October 15, 2015, the Consumer Financial Protection Bureau (CFPB) announced it is updating mortgage loan regulations–specifically the Home Mortgage Disclosure Act (HDMA)–to make the home loan process more transparent and easier to understand. According to the to the CFPB ...

FHA Loans, FICO Scores, and First-Time Home Buyers

FHA rehab loan

A reader asked us a question about FHA loan FICO score requirements in the comments section recently, saying, “Im a first time home buyer and my credit score is 599 to 620 avg. from all 3 bureaus. All my credit ...