Mortgage Blog

I've met with several people lately that have a credit score under 580.  As of around February 2008, we are only able to get people approved for an FHA loan if their "middle" credit score is 580 or above.  What that means is that 2 of the 3 scores from Equifax, Trans-Union, and Experian need to be over 580.  There are rare, and I mean rare, exceptions to that rule, but that is that for the most part. 

VA loans do not have a minimum credit score however, so if you are eligible for a VA loan, then that could still be an option for you.

Have a good Memorial Day Weekend.....

Colby