Right after FHA had released information about the more relaxed "fix n flip" rules, we got information that if you have credit scores lower than average (below 693) you will need a 10% down payment. The current rule says you can get into an FHA loan with a minimum of 3.5% down payment.
It REALLY pays to keep your credit in tact, for any type of loan or even insurance! If you do not know your credit score - go onto www.freecreditreport.com and get your current credit score from all 3 credit bureaus!
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