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Fico Score and FHA mortgage

Established Member

Fico Score and FHA mortgage

Hi all,

I was approved for an FHA loan with only 600 FICO Score. I have worked extremely hard getting collections deleted from my credit report. I’ve had 3 deleted from all 3 bureaus. The last 2 are only deleted by experian so far, waiting for Transunion and Equifax to delete as well.

How much should my score go up after the last 2 are deleted? Will it make a difference in what interest rate I get? I made an offer on a home and am not locked in yet. Lender says he will pull again as soon as I see a big change.

Thank you to all who post here, i know my score isn’t good but it’s way better than when I started.
Message 1 of 4
Valued Contributor

Re: Fico Score and FHA mortgage

WE need more information--what are the balances and limits on the credit accounts you have open and active?

2/3 of  your credit score is based on the manner in which you manage these accounts that are open and active and this is what you should focus upon UNLESS these collections getting paid were recent.   (within the last 2 years)


Licensed NC Mortgage Loan Originator
Message 2 of 4
Community Leader
Valued Contributor

Re: Fico Score and FHA mortgage

Hi Julep80,


There is no real way to estimate how much your score will change once the collections are deleted because each bureau scores differently.

Yes, if your scores go up it will improve your interest rate.


VA Mortgage Expert. Mortgage Banker lending in All 50 States.
VA, FHA, USDA. Jumbo, Conventional.
CAIVRS Expert.
Message 3 of 4
Established Member

Re: Fico Score and FHA mortgage

The only open accounts I have are student loans and 1 credit card utilized at .03% - limit $500 ($17 balance) I got a prepaid card to help build.

The collections were within the last 2 years. Not the first three deleted, but the last two were from last year and the year before.
Message 4 of 4
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