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Loan Modification

: The Truth About Mortgage.com

FHA to Up Credit Score Requirements

By scot184

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In a bid to boost its capital reserves, the FHA has proposed three initiatives aimed at improving loan quality. Most notably, new borrowers seeking FHA-insured financing will need a minimum Fico score of 580 to qualify for the ?flagship 3.5 percent down payment program.? Additionally, borrowers with Fico scores below 580 will need to bring in at [...]

Full post as published by The Truth About Mortgage.com on July 16, 2010 (boomark / email).

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