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Kmende, Home Buyer in ,

Can I get a FHA Loan with a mid-score of 597 in South Texas?

Asked by Kmende, , Sun Aug 26, 2012

I am looking to buy a home below 115k and have a mid score of 597, I think my high is 607 and low is 584. I haven't had a late payment in the last 12 months or any derogatory accounts, though I have a few from 3-4 years ago. I've also just started a new position making 50k base salary bonuses a year but have not had a lapse in employment. Is there anywhere I can get approved for an FHA loan at?

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3
You can contact Dante Miller with America's Choice Home Loans
0 votes Thank Flag Link Wed Oct 3, 2012
You may want to check with your credit reporting agencies and make sure they have kept "up" with updating your credit. At this point, FHA is usually requiring a credit score of 620-640. You can contact Envoy Mortgage to verify this. I am working with a FHA client and we were told 620 is the lowest credit score right now that FHA will work with.. Blessings to you and I pray you find a home! (PS- having an experienced buyer's agent will make the process MUCH more smooth and pleasant... you are welcome to interview me.)
0 votes Thank Flag Link Tue Sep 25, 2012
According to this article from the FHA, it looks probable that you could qualify to these guidelines.

http://www.fha.com/fha_article.cfm?id=325

Rick Stanczak

http://www.rickstanczak.com
0 votes Thank Flag Link Sun Aug 26, 2012
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