Frequent Contributor
Posts: 360
Registered: ‎02-20-2008
My questions after reading these forums

I'm not new but i do have questions.  Smiley Happy


I have an income of 95k.  I'm looking to get max FHA loan for my area which is about 270k.  My current scores are below par but I fully expect them to be in the neighborhood of 630-670 (all 3) in the next two months. 


What are the biggest factors considered on the FHA loans (aside from what's generally out there)?  I've read about the disputes.  ( I have a dispute comment on a REALLY old collections account which i don't really have any intentions of paying). 


I've also heard for the higher FHA loans you need a higher credit score so 650ish may not cut it, is that true?  What's the experience there? 


A bit more background, I have no lates in at least last 2 years, 2 autos, 1 cc, no bankruptcy.  1 eviction judgement unpaid for like 500 bucks which i'm debating on paying but its so old i believe it has little impact on my score.  (and stops reporting in 3/13).


I have it in my mind I should be approved based upon credit score and income alone but i guess i'm kinda expecting a reality check here. 


Thanks in advance!