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Are we ready to apply for a mortgage? Please help experts! Baby on the way

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Anonymous
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Re: Are we ready to apply for a mortgage? Please help experts! Baby on the way

What you say is true, WannaHouse. Thanks for making

that distinction.

 

However, even though there is no USDA requirement for

a FICO of 620 or better, most lenders do require that score

in order to make the loan and offer the best rates.

 

The same thing is true for VA loans. While they have

no FICO requirements, lenders making the loans want to see

a 620 or better to qualify for the best rates.

 

For FHA, depending on the lender they want to see 550-580

to get you in the door, but 620 or better gets you the best rates.

 

But your point is well taken. Thanks again for the clarification. Smiley Happy

 

CanDo

 

"The right attitude is everything"

Message Edited by CanDoAttitude on 01-13-2009 07:16 PM
Message 11 of 12
DallasLoanGuy
Super Contributor

Re: Are we ready to apply for a mortgage? Please help experts! Baby on the way


@Anonymous wrote:
Dallas!!  I could give you the biggest hug right now (might be some of the pregnancy hormones talking!).  Any advice on timing or things we should do for our reports to get the best rates?
Preggo hugs are cool.... We won't have to be close to each other.
 
*think about it*
 

 

Retired Lender
Message 12 of 12
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