Good news everyone! I just wanted to share some exciting news from a lending stand point regarding new FHA credit score requirements. As of today August 1st there is a company I use often who has rolled out a new program that will allow them to qualify borrowers for FHA Financing with 600 credit scores and above. Up until now we have been limited to 640 credit scores and could do 620-640 but had very strict requirements and nobody would ever qualify for the 620-640 program. They can now can lend on FHA products that are as low as 600 with much more lenient guidelines. Each borrower will be a case by case basis depending on their credit score, credit history and their debt to income ratio but the additional requirements for those clients that are 600-640 are very attainable. I look forward to qualifying more borrowers now due to the change and hope you will call me to go shopping for a new home while the interest rates are still historically low!!! I look forward to hearing from you!!! Debbie with Re/Max Crossroad.
Posted on: Sat, 02 Aug 2014 02:05:05 +0000
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