Financing in Perris>Question Details

Sue, Home Buyer in Perris, CA


Asked by Sue, Perris, CA Fri Oct 3, 2008

0 votes Share Flag Financing in Perris

Help the community by answering this question:


Yes, Your credit score will matter with a FHA loan.

FHA standards are not as strict as conventional loans, but your score still matters.

The min score needed for a FHA loan in 640. However to get the very best prevailing interest rate and terms you should try to get your credit score above the min required.

Best of Luck to you!

Kawain Payne, Realtor
0 votes Thank Flag Link Mon Apr 9, 2012
Yes, your credit score does matter. All banks, mortgage companies make decisions based on not just credit scores but the better your credit score is the easier and better interest rate you are likely to get.
0 votes Thank Flag Link Fri Nov 14, 2008
Yes, fico score does matter. Although FHA does not impose a minimum fico score restriction, each lender has their own guidelines. Keep in mind that FHA does not make the loan, they only insure it in the event of derfault. Most lenders adhere to a 580 score requirement, however you may be able to find lenders taking less than that.

Please feel free to contact me if I can be of assistance. I am a direct lender and have been HUD approved since 1992. FHA is our only business.

Have a great weekend!

Jackie Pulcano, SVP
United Mortgage Corp
0 votes Thank Flag Link Fri Oct 3, 2008
YES no matter what credit scores, debt ratio, employment history all are factors in securing a loan from any lender.
Web Reference:
0 votes Thank Flag Link Fri Oct 3, 2008
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