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

Tag Archives: FICO

FHA Loan FICO Score Rules

What are the FHA loan program’s FICO score requirements? That’s a common question, and a good one to ask as there are several things to keep in mind about how the FHA and participating lenders will view your credit scores. ...

Mortgage Rate Trends: Slightly Higher

Mortgage Loan Rate Trends

We’ve seen three days of improvement, followed by two days of mortgage rates creeping upward. The rate environment at the time of this writing is a bit contrary-we have seen stronger economic news and data this week that traditionally has ...

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 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 ...