Fha Loan - score 650

[aman31]

I got a preappoval on an FHA loan. I'm currently under contract for a lot/home purchase. I have to be conditionally approved within 30 days. Is 650 a strong enough score for the FHA? Today the underwriter started asking questions on my student loans. They were recently transferred and one is missing from my credit report. I'm so scared that I'll lose the loan. Help me sleep tonight

[dragontears]

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@aman31 wrote:

I got a preappoval on an FHA loan. I'm currently under contract for a lot/home purchase. I have to be conditionally approved within 30 days. Is 650 a strong enough score for the FHA? Today the underwriter started asking questions on my student loans. They were recently transferred and one is missing from my credit report. I'm so scared that I'll lose the loan. Help me sleep tonight

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Take a deep breath. 

650 middle mortgage score is plenty fine for FHA. 

The underwriter is asking about student loans most likely for DTI reasons and it has nothing to do with your score. 

[aman31]

Take a deep breath......yes, I need to do this a lot!!! Thank you! 

[YesItsMe4]

Hello, I know its been a few months, but wanted to see if you were able to close on your loan and also when your credit was pulled do you remember if they used the FICO score 8 or 5,4 ans 2?

Thanks!

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@aman31 wrote:

I got a preappoval on an FHA loan. I'm currently under contract for a lot/home purchase. I have to be conditionally approved within 30 days. Is 650 a strong enough score for the FHA? Today the underwriter started asking questions on my student loans. They were recently transferred and one is missing from my credit report. I'm so scared that I'll lose the loan. Help me sleep tonight

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[ShanetheMortgageMan]

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@YesItsMe4 wrote:

Hello, I know its been a few months, but wanted to see if you were able to close on your loan and also when your credit was pulled do you remember if they used the FICO score 8 or 5,4 ans 2?

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Mortgage lenders always use your mortgage score 5/4/2's for FHA, VA, USDA, Fannie Mae and Freddie Mac loan programs + majority of other mortgage programs as well.  Occasionally some programs will use FICO 8's but it's pretty rare.