fico score for home mortgage

For an A paper mortgage lenders usually request a 620 or higher, but there are several sub prime lenders who are able to offer programs for those with a lower score. Hope this helps.

Dani

 

I'm in the process of getting a mortgage from full spectrum lending...the credit come-back loan...they'll take you with scores in the mid 500...with on time payments your interest comes down.

 

Some of my friends here in Arizona in the mtg business are saying that lenders they deal with want to see scores of 680. Just passing that along....

 

if you are doing FHA scores are not important. all collections and judgements paid, good payment record for last two years, you can probably get approved with debt to income ratio and employment history in proper ranges

 

Scores are an important factor in FHA loans if you do not have the necessary downpayment or high income to qualify. If you have the downpayment and a decent income scores don't play so large a part, but my husband and I were approved for an FHA loan based on our scores. Our income was borderline and our downpayment then was nil. Our lender said she has a minimum score requirement of 620 for an A paper. Anything lower and her price goes up and usually so does the interest rate. So it all depends on the above characteristics if one's focus is on scores, downpayment, or a substantial income.

Dani