I get asked this question all the time. Most lenders require a 640 credit score, others 620 and others 580. We also do business with two lenders that do not require a credit score at all, as long as we can prove three alternative items that the individual is paying on a regular basis. Besides 3.5 percent down, these lenders will require four to six months in reserves. Alternative credit can be, utility bills, cell phone bills, debit cards and car insurance. You would be amazed, in this day and age how many folks there are with no credit scores at all. They pay for everything in cash. They come from, if I don’t have the money, I don’t buy it.
Do You Need Credit Scores to Qualify for an FHA Mortgage?
Credit history and credit scores.
Comments + Leave a Comment
Loading comments ...
Boards
All Boards »
Timothy Becker May 10, 2013 at 08:19 am
Assumption School offers an excellent education, with small class sizes. The environment is…Read More welcoming for every child, and values that last a lifetime are taught. Students also make friends for life. I still hang out with my friends from the Assumption School class of 1966!
Nutmegger May 10, 2013 at 03:06 pm
The Manchester Historical Society has a genealogy group that meets on (I believe) the second Tuesday…Read More of every month. Contact info@manchesterhistory.org for details on how they can help you.
Also, the Connecticut Society of Genealogists, Inc. regularly helps people with requests on their Facebook page. The CSG library is located right on Maple Ave. in East Hartford. Their website is csginc.org and their Facebook is at facebook.com/ConnecticutSocietyofGenealogists.