Here are the 4 most popular low-down-payment home loan programs for people who have good credit and income documentation but don’t have enough savings for a bigger down payment. FHA Loan Fannie…
Tag: FICO score
Three Kinds of Notices Sent by Mortgage Lenders to Home Loan Applicants
Under new rules, there are now three main kinds of disclosure notices mortgage lenders send to home loan applicants. These are the: Credit Score Disclosure Notice Risk-Based Pricing Notice Adverse Action Notice…
FICO Score Needs to be Tweaked, According to NAR
As the FHA, Fannie Mae, Freddie Mae and other lending institutions require higher FICO scores for mortgage approval or for lower loan rates, people particularly realtors, home sellers and potential homebuyers have become more…
Biggest Lenders Require Higher FICO Scores for FHA Loans
The country’s two biggest mortgage lenders have raised their standards for Federal Housing Administration loans. Weeks after the FHA increased its minimum FICO score requirement for its low down payment loans to…
Qualify for a Home Loan Through Credit Rescoring
If your credit score on the FICO scale is 599 or below, your application for a home loan won’t be accepted by most lenders, as even those with scores between 599 and…