FHA Loans

Be aware that if you are planning on applying for a FHA Mortgage loan, you will need a FICO score of 580 for the 3.5 % down program. You will be denied all program loans if your score is 500 or less. The underwriting criteria  is also more stringent.

Good or bad, this is all a reaction to the Real Estate problems of the last few years. Which were caused by the lax policies of Fanniemae and Freddiemac.

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