Posted on: 15th Apr, 2013 12:44 am
Hello there… I have a credit score of 637 and I am looking for a FHA loan to buy a property. But there is one problem. There is a auto loan charge off mentioned on my credit report. Can I get a FHA loan?
Hi Linda,
Well, you need to pay off the auto-loan charge off in full in order to get qualified for a FHA mortgage. Unless you do that, things may be difficult for you.
Thanks,
Jerry
Well, you need to pay off the auto-loan charge off in full in order to get qualified for a FHA mortgage. Unless you do that, things may be difficult for you.
Thanks,
Jerry
Hi Linda!
Welcome to the forums!
Rules have become quite strict now-a-days and so the lender will want you to clear off the auto loan before you get qualified for a FHA loan.
Feel free to ask if you've further queries.
Sussane
Welcome to the forums!
Rules have become quite strict now-a-days and so the lender will want you to clear off the auto loan before you get qualified for a FHA loan.
Feel free to ask if you've further queries.
Sussane