Buy a House with Bad Credit 2017 FHA

Buy a House with Bad credit 2017 FHA


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Mortgage approval credit score to buy a house 2017. First time home buyer new requirements credit score, down payment, debt to income ratio, loan limits for 2017. Credit score to buy a house in 2017.


Credit score - FHA announced a new policy to address risk. FHA changed the minimum credit score for new borrowers.

  • FHA requirements new borrowers will now be required to have aminimum credit score of 580 to qualify for 3.5% down payment
  • FHA loan requirements new borrowers with less than a 580 credit score will be required to put down at least 10%

This has allowed the FHA to better balance its risk and continue to provide financing for home buyers.

Debt-to-income ratio - FHA loan requirements include a maximum debt to income ratio. When a borrower applies for an FHA mortgage, they are required to disclose all debts, open lines of credit, and all possible approved sources of regular income. Using this data, the lender and FHA can calculate the borrower's debt-to-income ratio.

  • Most lenders will limit maximum debt-to-income to under 50%
  • FHA maximum debt to income ratio is 54.99%
  • Manual underwriting maximum debt to income ratio is 43%

Alachua County - Gainesville
Baker County - Macclenny
Bay County - Panama City
Bradford County - Starke
Brevard County - Titusville
Broward County - Fort Lauderdale
Calhoun County - Blountstown
Charlotte County - Punta Gorda
Citrus County - Inverness
Clay County - Green Cove Springs
Collier County - Naples
Columbia County - Lake City
De Soto County - Arcadia
Dixie County - Cross City
Duval County - Jacksonville
Escambia County - Pensacola
Flagler County - Bunnell
Franklin County - Apalachicola
Gadsden County - Quincy
Gilchrist County - Trenton
Glades County - Moore Haven
Gulf County - Port St. Joe
Hamilton County - Jasper
Hardee County - Wauchula
Hendry County - LaBelle
Hernando County - Brooksville
Highlands County - Sebring
Hillsborough County - Tampa
Holmes County - Bonifay
Indian River County - Vero Beach
Jackson County - Marianna
Jefferson County - Monticello
Lafayette County - Mayo
Lake County - Tavares

Lee County - Fort Myers
Leon County - Tallahassee
Levy County - Bronson
Liberty County - Bristol
Madison County - Madison
Manatee County - Bradenton
Marion County - Ocala
Martin County - Stuart
Miami-Dade County - Miami
Monroe County - Key West
Nassau County - Fernandina Beach
Okaloosa County - Crestview
Okeechobee County - Okeechobee
Orange County - Orlando
Osceola County - Kissimmee
Palm Beach County - West Palm Beach
Pasco County - Dade City
Pinellas County - Clearwater
Polk County - Bartow
Putnam County - Palatka
Santa Rosa County - Milton
Sarasota County - Sarasota
Seminole County - Sanford
St. Johns County - St. Augustine
St. Lucie County - Fort Pierce
Sumter County - Bushnell
Suwannee County - Live Oak
Taylor County - Perry
Union County - Lake Butler
Volusia County - DeLand
Wakulla County - Crawfordville
Walton County - De Funiak Springs
Washington County - Chipley


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Buy a House with Bad Credit 2017 FHA.

Bad credit 2017 FHA

Apply Now

Call us 888-958-5382


www.MORTGAGE-WORLD.com LLC is an online mortgage company specializing in FHA loans for first time home buyers.


We look forward to working with you.

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Minimum Credit Score Needed

to Purchase a Home


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FHA

Requires a minimum credit score of 500 to purchase a home

FHA minimum

credit score 500

VA

Requires a minimum credit score of 500 to purchase a home

VA minimum

credit score 500

Fannie Mae

Requires a minimum credit score of 620 to purchase a home

Fannie Mae minimum

credit score 620

Freddie Mac

Requires a minimum credit score of 620 to purchase a home

Freddie Mac minimum

credit score 620

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888-958-4228

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