Good Morning Melvin,
How are you? Thank you for your inquiry. I think what you meant was FHA LOANS and NOT FDA LOANS, is that correct? If so, FHA (Federal Housing Administration), also known as HUD (Department of Housing and Urban Development). The Federal Housing Authority is a federal entity that governs the FHA mortgage program, which is a low down-payment mortgage program with flexible credit and qualifying guidelines.mortgages. Here is a website that you can find out more on FHA Loans:
It gives you everything you need to know about FHA there. For FHA loans, you would require at least a 620 FICO Credit Score or higher in order to qualify for a loan. If you are a First-Time Homebuyer and have at least 580 credit score, I could refer you to a mortgage company that is will to take in a borrower that has only at least a 580 credit score or higher. If you are interested, please feel free to email or call me at (267) 918-1880 and I'll be more than happy to pass along their contact information for you.
Hope that helps!
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Phong Lam, CSM
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