December 8, 2022

Why FHA Borrowers With FICO Scores Below 620 Can’t Get Approved

FHA mortgage programs are the most lenient in the industry and borrowers with low credit scores have frequently had no other options except FHA financing. Current FHA guidelines state that borrowers with credit scores above 580 are qualified for FHA financing with only a 3.5% down payment.  The reality, however, is quite different as very […]

FHA Loan With FICO Score Under 620 – What Are My Odds Of Loan Approval?

The FHA has established minimum credit score requirements in order to be eligible for FHA financing. The FHA guidelines specifically exclude from eligibility any borrower with a FICO score below 500.  Theoretically, any borrower with a credit score above 500 can be approved for an FHA loan but realistically, the lower the credit score, the […]