FHA Loan Poor Credit

FHA Loan Poor Credit

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Recent Articles

  1. FHA Construction to Permanent Loan

    Oct 12, 21 08:29 AM

    FHA construction to permanent loan. Do you want one loan to buy the land, build a new home with a construction loan and then have the loan convert to a permanent loan with only 3.5% down?

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  2. Refinance Minimum 500 Credit Score

    Oct 11, 21 08:00 AM

    Refinance to take cash out, divorce, payoff debt or home improvements with a 500 minimum credit score. FHA refinance allows cash out amount up to 80% of the value of the property.

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  3. FHA Loan Requirements 2021

    Oct 08, 21 09:37 AM

    FHA loan requirements 2021 minimum credit score is 500 to buy a house or refinance. FHA loan requires 580 credit score to qualify for 3.5% down payment.

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KEYWORDS:FHA Loan Poor Credit,


FHA Credit Score needed to buy
a house or refinance


FHA loan requirements new borrowers with less than a 580 credit score will be required to put down at least 10%

FHA requires a minimum credit score of 500 to buy a home or refinance


Bankruptcy

Chapter 7 Bankruptcy at least two years must have elapsed since the discharge date


Foreclosure

Foreclosure must have been resolved for at least 3 years

Government loan: Seasoning is determined by the date the claim was paid

Loans other than Government: Seasoning is determined by the date of sale the lender sold the property


Short Sale

FHA guidelines requires three year past from the date of sale of the property


What documentation will I need?

  • W2's or Personal tax returns for 2 years
  • Current pay stubs for the past month
  • Bank statements for last 2 months (all pages)
  • Clear copy of Driver’s License (front and back)
  • Clear copy of SS card (front and back)

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