Contents
- – · In some instances, where a co-borrower does not have any credit scores, FHA will consider approval so long as the primary borrower meets the minimum credit score requirements and has more than 50% of the qualifying income with a minimum of 3 tradelines active for last 24 months.
Though some lenders will impose tougher standards, such as minimum credit scores or reserve guidelines (amount of “rainy day” savings) for FHA loans, most honor the minimum guidelines set out by the.
FHA Inspection and Appraisal Requirements – In order to pass inspection, the home must meet minimum safety, security and soundness standards. An FHA inspection. and repair your credit score before continuing the search, so that you can.