fha credit score requirements: Good credit scores still needed to obtain great mortgage rates
- 12/27/12 03:09 AM
Before a new home buyer, especially a first time home buyer, starts looking at homes, they need to obtain a pre-approval for a mortgage. This is necessary so the buyer will know what price range they should be considering, but is also required so the buyers and the sellers will know what type of loan will be used for the transaction. Different loans have different underwriting requirements and may mean certain home repairs will be necessary prior to the sale, or may mean there will be a longer timeframe required to get to closing.
One of the most critical components of … (6 comments)
|
|
|
|
Before a new home buyer, especially a first time home buyer, starts looking at homes, they need to obtain a pre-approval for a mortgage. This is necessary so the buyer will know what price range they should be considering, but is also required so the buyers and the sellers will know what type of loan will be used for the transaction. Different loans have different underwriting requirements and may mean certain home repairs will be necessary prior to the sale, or may mean there will be a longer timeframe required to get to closing. 
;)
;)
;)
