New Credit Score Loan Criteria

Minimum Loan score and LTV allowed for Purchase transactions FHA Loans:

Loan Score lower than 500 = not allowed

Loan Score 500-579 allowed with maximum 90% LTV* (10% down payment required)

Loan Score 580-599 allowed with maximum 95% LTV* (5% down payment required)

Loan Score 600 and higher allowed with maximum 96.5% LTV (3.5% down payment required)

*funds for DOWNPAYMENTS must come from BORROWERS OWN FUNDS