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Adriasnover23 · Joined: 27 Apr 2009 Posts: 1 0.16 Dollars($)

Will my score of 625 get me an fha loan? I currently dont have a job. I do have the 20% Down Payment.

jenkin7 · Posted: Mon Apr 27, 2009 10:16 pm Post subject:

Hi Adriasnover,

Previously, you needed a credit score of at least 580 to qualify for an FHA loan. Now the credit requirement has been raised to at least 620. So, creditwise, you do qualify. A down payment of 20% is also supposed to be enough to get you an FHA loan. But the fact that you currently have no job will not work in your favor. The lenders would always want to see you employed at least the for past 12 months before they approve your loan.

danielcorral13 · Joined: 20 Apr 2009 Posts: 53 0.69 Dollars($)

Hello Adriasnover,

I would like to say you that, There are 620 Score is enough to qualify for the apply to FHA ( Federal Housing Administration ) Loan. So you don't worry about for qualify for credit score because you have 625 score now & you must have 620 to get the FHA loan so you have qualify for to get FHA loan.

Other most important thing is that your down payment . They must have 3.5 % of loan amount of down payment so you have also qualify for the down payment requirement & you have to qualify for other requirements of bank who provides you FHA loan.

Congrats you are qualify to get FHA Loan.

Thanks ........... ( Rolling Eyes

)

smckaybiz · Posted: Tue Apr 28, 2009 2:30 am Post subject:

Please daniel, don't get the newcomer all excited for nothing.

Adriasnover, unfortunately jenkin is right. To qualify for an FHA loan you must have worked atleast one year but you would even have a much better chance of being approved if you've worked for atleast 2 years or more. In all honesty I don't know of any type of home loan program that will approve you right now without a job.

And do you really want to buy a home without first knowing whether or not you will be able to afford it???

gunzijjistaff · Joined: 07 Apr 2009 Posts: 712 4.51 Dollars($)

Hi

welcome to our forum.

Yes i agree with you smckaybiz.

Thanks. ( Laughing

)

Daniel stop to copy my posting style. This is my request to you.

danielcorral13 · Joined: 20 Apr 2009 Posts: 53 0.69 Dollars($)

Hi

I am Daniel here.

Hi smckaybiz ,

[/quote]Please Daniel, don't get the newcomer all excited for nothing.

gmakerley · Posted: Tue Apr 28, 2009 11:08 am Post subject:

this thread completely went off topic. gunzi and daniel - it is not about you!
if you have something sensible to say to someone asking a question, please do so. if all you have is gibberish, however, you do noone any favors.

as for having a 625 score with no job - there isn't a sane lender in the usa who'll take that deal. one must have income to pay a mortgage.

what we get is repetitive posts by the same people asking the same questions over and over, with little or no insight sought; followed by inane commentary that is also repetitive in itself that offers little or no insight.

this is becoming more of a money-making enterprise for several, rather than a forum of ideas for exchange and education and interest. i pray we don't go so far afield as to lose sight of the purpose here.

Garysnober · Joined: 17 Mar 2009 Posts: 450 15.29 Dollars($)

Yes i must agree with george, Hi george havent seen you in a while. As for this post. Without a job you will not get a loan im sorry. 2+ years is what most lendors look for. As for george mentioning the money making yes sad but true most here and just copying peoples posts/responses and getting the easy 10 dollars and cashing out never to be seen again...People are here for help and want serious and honest answers.. George all your posts and answers and dead on the money and i really appreciate the good you are trying to do here on the forums.

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