FHA Loan With 580 Credit Scores Mortgage Guidelines

FHA Loan With 580 Credit Scores Mortgage Guidelines



hi my name is Alex caliche with Gustin choice oceans most you looking up throw up sites are usually you know I've been some trouble getting a loan and I'm going to talk to you about above 580 and below 584 FHA so you want to be at that 580 credit score and here's the main reasons so first it's 10% out of your less than 580 and that's the main reason a lot of you have 10% down second reason is you want to get an approval is about 580 you got a much better chance to get into privilege well if you are below 5 ad you get downgrade – man on – right and you know put 10% down very tough to get that manual underwrite guidelines when you're below 580 because you can't really have a lot of lates and you probably do but sometimes when you're below 580 and you have the 10% down you get the privilege of all when you have versus a 581 you got three nine percent down you may not get approval because FHA's tightened up their restrictions below five below 640 so have being at 581 with 3m percent down isn't necessarily better than being 560 at 10% down so keep that in mind but we always want to get into prove eligible and the higher your score is the better chance it is to get approval FHA loves downpayment so did your scores 5 10 5 20 and you got 20% down FHA good chance of it approved so don't give up if you have the downpayment don't give up my head low credit score you might be ready to buy a house right now so get your score about 580 we have some tricks I'm here your scores up and you don't pay some your debts down and is one of them get some good credit trade lands going on we got a jewelry you can open up you know boost your credit score so if you're just on that borderline we need to get above 580 there's some things we can do to push up your score so always if we don't get to prove eligible put more money down that's that works you know about 5h put a little money burn it down and those are my topics of below 580 and about five meetings so be about 580 it's much better option option for you so let me know if you have any questions please leave the questions below please like and share this video thank you

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