cpae coral loan officer: But, you said I'd qualify
- 08/23/12 11:41 PM
But you said I needed a score higher than 640 for FHA. Mine's 651, but now you tell me my credit isn't good enough.
What's up with that?
Okay, lenders/investors establish credit score minimums for the programs they offer, and essentially if you don't pass the scoring test than you don't pass GO!
Just as a reference, for clarity's sack. We're talking about
middle score, for one applicant, or lower middle score for two
What this means is that the lender throws out your highest and your lowest scores, and when there are two applicants then uses the lower of the … (2 comments)
|
|
|
|
But you said I needed a score higher than 640 for FHA. Mine's 651, but now you tell me my credit isn't good enough.
;)
;)
;)
