FHA| CREDIT SCORE|COVID-19
FHA| CREDIT SCORE|COVID-19 – Latest News Today
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Fha/Hud has not changed the min credit score requirement. Lenders have added overlays to the credit score,dti and reserve requirement. Covid 19 has caused a lot a damage with the mortgage market and i believe more changes will follow.
Majority of lenders have moved to a min credit score of 640 and several as high as 660 for fha loans. Also they have added a min of 2 months of reserves ( PITI) and a max dti of 50%
if you have been preapproved and you are below this amount please check with your lender to make sure you still qualify
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