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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