There are still people doing under 580, but the problem is that they are getting pushed by FHA to change that. So, anyone not already in process on a deal/close to closing a deal stands a good chance of a denial down the road even if they are approved right now. Several people here on the boards have lost deals or been sent scrambling for financing when the lender they used changed their guidelines. The Brokers often times do not have prior warning when the investors/buyers are going to change their mind.
Either way good luck with the hosue hunting and credit repair.
I was under the impression FHA couldn't require credit scoring, so how is it they're the ones pushing for the increase?
lenders can add to the requirements though
these sub-620 deals are expensive and had to get thru underwriting.