https://ficoforums.myfico.com/t5/Mortgage-Loans/FHA-experts/m-p/454182#M35622 <P>It is easier because the requirements are a bit less strict. Mostly dp and credit score. Downpayment is 3.5% compared to most conventionals at 20%. And a minimum credit score of 620, compared to conventionals i believe the minimum of which is 680 but you're better off in the 700s+. With FHA you don't get better rates with higher scores, you just have to meet the minimum.</P><P>&nbsp;</P><P>A lot of lenders do FHA so you shouldn't have trouble finding one. My credit union doesn't do them but everywhere else i called does.</P><P>&nbsp;</P><P>Don't know the answers to the rest of your questions but you can check out this site or google FHA <A href="http://www.fha.com/" target="_blank">http://www.fha.com/</A></P> Sun, 08 Mar 2009 05:18:45 GMT Anonymous 2009-03-08T05:18:45Z https://ficoforums.myfico.com/t5/Mortgage-Loans/FHA-experts/m-p/454176#M35620 all i know about FHA loans are that they are easier to get? are they for owner occupied properties only? what are the steps to get an FHA loan? do you choose your lender? what are the credit requirements/is there a cutoff? i am exploring refinance options and would like to know.<DIV class="message-edit-history"><SPAN class="edit-author">Message Edited by CreditDrama85 on </SPAN><SPAN class="local-date">03-07-2009</SPAN><SPAN class="local-time"> 08:51 PM</SPAN></DIV> Sun, 08 Mar 2009 04:51:32 GMT https://ficoforums.myfico.com/t5/Mortgage-Loans/FHA-experts/m-p/454176#M35620 CreditDrama85 2009-03-08T04:51:32Z https://ficoforums.myfico.com/t5/Mortgage-Loans/FHA-experts/m-p/454182#M35622 <P>It is easier because the requirements are a bit less strict. Mostly dp and credit score. Downpayment is 3.5% compared to most conventionals at 20%. And a minimum credit score of 620, compared to conventionals i believe the minimum of which is 680 but you're better off in the 700s+. With FHA you don't get better rates with higher scores, you just have to meet the minimum.</P><P>&nbsp;</P><P>A lot of lenders do FHA so you shouldn't have trouble finding one. My credit union doesn't do them but everywhere else i called does.</P><P>&nbsp;</P><P>Don't know the answers to the rest of your questions but you can check out this site or google FHA <A href="http://www.fha.com/" target="_blank">http://www.fha.com/</A></P> Sun, 08 Mar 2009 05:18:45 GMT https://ficoforums.myfico.com/t5/Mortgage-Loans/FHA-experts/m-p/454182#M35622 Anonymous 2009-03-08T05:18:45Z