•Ø FHA insured mortgages are conforming loan products. As such, each loan is evaluated individually and may be subject to additional requirements and documentation. •Ø NOT Credit Score driven for approval, interest rate, discount points, or financing costs •· Credit scores are considered in AUS loan analysis/recommendation. •· Credit (traditional or non-traditional) must be acceptable. Borrower cannot have exhibited a disregard for credit obligations. Derogatory credit must be satisfactorily explained/documented by borrower. •· Credit history is not required. However, alternative (non-traditional) credit must be attempted/documented. •· Credit requirements are the same regardless … (1 comments)
SNAPSHOT OF FHA REQUIREMENTS;)
;)
