qualification for an fha loan: Buying a Home with Less Than Perfect Credit
- 06/28/12 12:10 PM
Buying a Home with Less Than Perfect Credit
As I’ve previously noted, getting a home loan these days can be extremely difficult unless you have a 20% down payment, a credit score in the mid 700’s and sufficient income so that your housing costs are no more than 28% of your gross income. In fact, according to the Financial Institutions Examination Council, roughly 25% of all conventional home loan applications are rejected.
These stringent qualification requirements are for loans backed by Fannie Mae and Freddie Mac, but luckily they aren’t the only game in town. Today, more … (1 comments)
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Buying a Home with Less Than Perfect Credit
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