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Is it worthwhile improving fico for FHA loan

Established Member

Is it worthwhile improving fico for FHA loan

I'm expecting to be around 650's with mortgage scores after my utilization reports. I have an open collection that updates monthly for $1800 that's past SOL and 5 years old. If i'm planning to apply for an FHA loan in about 8 months is there any benefit for increasing score or should I just continue saving?
2 REPLIES
Established Contributor

Re: Is it worthwhile improving fico for FHA loan

why not do both?

 

 

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Licensed NC Mortgage Loan Originator
Message 2 of 3
Valued Contributor

Re: Is it worthwhile improving fico for FHA loan

I agree with NC, why not do both?

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