Fha Loans Bad Credit
I would qualify for an FHA loan, my credit score is around 700 and I have the 3.5% of payment?
I always pay all my bills on time my debt to income ratio is pretty good, my annual income is 60k and the only monthly payment I have is my car payment $ 500 Do I have difficulty to get approved with the economy is so bad, I heard it is very difficult to get approved for a mortgage, I've been at my job for padt four years.
Do not forget that in addition to at least 3.5% down payment, you also need enough money for closing costs. If you get pre-approved for a certain loan amount and want to get a more expensive home, you may be limited by how much more you can come up with for payment. FHA has certain requirements for housing, so they are ready to live without having to repair in the near future.