Home arrow Mortgage Forums arrow Loan Talk for First Time Home Buyers arrow

FHa

Author Message
Guesy

Guest







Post Posted: Tue Aug 11, 2009 5:45 pm    Post subject: FHa
Like 0
Dislike 0

Can i go for a fha loan as long as i have 630 fico... i also have good income and good work history.
_________________
Need help choosing the right loan? Get free consultation from community lenders/consultant
Icon Mini Profile Garysnober





Joined: 17 Mar 2009

Posts: 450

15.29 Dollars($)
Post Posted: Tue Aug 11, 2009 5:46 pm    Post subject:
Like 0
Dislike 0

Hi, Having a 630 fico is enough for an fha loan as they only require 620 minimum fico score. Having good income and good work history is 2 of the other things they will look for. They will also want to see recent pay stubs and bank statements.
Icon Mini Profile Realgeni





Joined: 13 Apr 2009

Posts: 1434

99.76 Dollars($)
Post Posted: Tue Aug 11, 2009 7:38 pm    Post subject:
Like 0
Dislike 0

Guesy

You can for sure go for FHA loan.

Make sure your DTI is not high

Good luck and feel free to ask
Icon Mini Profile JKennedySLG
JKennedySLG
Community Expert
Community Expert

best lender badge

Joined: 01 Apr 2009

Posts: 408
Location: New Jersey/New York
20.05 Dollars($)
Post Posted: Tue Aug 11, 2009 9:39 pm    Post subject:
Like 0
Dislike 0

620 and above credit scores qualify for FHA. With FHA, there is a 3.5% down payment requirement (which may be a gift).

As stated above there are other factors like income and assets. The lender may also require 12 months rent verification. The amount you qualify for will be dependent upon your income compared to your debts as well as the mortgage payment to be carried.

_________________
James Kennedy
New York/New Jersey
(732)979-7409

Hard Money & Stated Income Loans
First Time Home Buyers (540+ Credit)
Quick Reply
Your Name
Subject
Image Verification


Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours
Page 1 of 1

 
Highlights
Bookmark this page
Share |

Helpful References
Mortgage Guide
Mortgage Terms
Mortgage News
Book Center
Shop and Compare lenders
30 Yr. Fixed Vs. 5/1 ARM


Calculators     [View all]
Are you eligible for loan?
How much you can afford?
Calculate monthly payment
Calculate APR


Financial Tools
Credit Repair Tool New
Mortgage Planner
Simple Budgeting Tool


Our Community
MortgageFit Blog
Community Professionals
Community Rewards
Introduce yourself
Website tools


Community Rewards
Five simple ways to earn money with the Mortgage Community.

MortgageFit on Twitter

Followers (265)








Community Chat

We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0
Page loaded in 21.223 seconds.