Helpful Mortgage And Real Estate Advice

Tag: credit score

FHA Minimum Credit Score Declines by 60 Points

Ellie Mae’s third quarter mortgage loan origination insight report spoke too soon. FHA has now lowered its credit score requirement by 60 points. Making it even easier for eligible borrowers to qualify for an FHA-backed loan. Borrowers with scores of 580 or higher may be able to sign off on a mortgage loan closing now […]

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Credit Clean-Up Tips to Help Obtain Mortgage Approval

By on March 3, 2014 in Home Buying Advice
Credit Clean-Up Tips to Help Obtain Mortgage Approval

As result of a stark increase in mortgage interest rates and fees, it has become essential to have the highest credit score possible when applying for financing. Any score below 740 (as set forth by Fannie Mae guidelines) carries far greater risk, and prospective borrowers will pay higher interest rates and fees. With a credit […]

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