WHAT KIND OF FICO SCORE DO I NEED TO PURSHASE A HOME?

Vivian
Vivian
Home Buyer
Colton, CA

Thu May 7 2009, 07:06 - Home Buying in Colton - 2 answers
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Steve Ornellas: MBA, RE Masters, GRI, ABR, e-PRO, CMPS
Steve Ornellas:...
Broker
Fremont, CA

Hi Vivian, Dana is correct on FHA.

Non-FHA is also 620; HOWEVER, if you do not want any added Lender fees for low credit score you need a 720. Then again, if your LTV is 60% and lower all you need is 660.

Talk with a mortgage broker to determine exactly what you FICO requirements are based on your situation.

Best, Steve

Web Reference: http://www.Steven-Anthony.com
Thu May 7 2009, 08:07
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Dana Schuster
Dana Schuster
Agent
70461
FIRST ANSWER

minimum 620 for an FHA loan with 3.5% down payment. all other types of financing now require a 720.

Thu May 7 2009, 07:13
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