The Real Score with FHA Credit Score
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A good credit standing is of primary importance to become eligible for FHA loans with lower down payments. Here is the real score with FHA credit score.
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The Real Score with FHA Credit Score
- 1. The Real Score with FHA Credit Score
- 2. 580 and above between 500 and 579 below 500 lower down payment as low as 3.5% down payments may be as high as 10% not qualified for an FHA loan WHAT'S YOUR CREDIT SCORE?
- 3. Improving that Credit Score Credit scores are generally based on payment history, debt burden, credit history length or time in file and credit inquiries. If you are interested in taking out a loan with the FHA, revisiting and clearing up your “bad” credit history is the best way to go.
- 4. Improving that Credit Score Collect Credit Reports You can request a copy of your own credit report from the big three national credit bureaus — TransUnion, Experian, and Equifax once a year. It will help you monitor your credit standing and detect fraudulent activity or identity theft.
- 5. Improving that Credit Score Correct the Inaccuracies Report any discrepancy or inaccuracy found in your credit report without delay. Be ready to submit additional records or evidence to support your claim/dispute.
- 6. Improving that Credit Score Seek for Counseling If you have credit woes, it is wise to consult with a credit counselor to help you out with your situation. Undergoing a Consumer Credit Counseling program will also help you restructure, reduce or manage your debts.
- 7. Improving that Credit Score Credit “Re-establishment” You can still get back on track by re-establishing a good payment history and developing habits that will increase your credit score. Pay your debts on time, get your credit reports when available and talk to a reliable debt counselor, the list goes on.
- 8. CLICK HERE TO LEARN MORE INFORMATION ORIGINALLY PUBLISHED JUNE/2/2016
- 9. INFORMATION PROVIDED BY: JUSTIN MCHOOD He is Americas Mortgage Commentator and has been providing Mortgage commentary for over 10 years.