New Lower Minimum Loan Scores Allowed for FHA Financing

New guidelines for FHA financing.

The positive news is that anyone who needs a mortgage and has a 600 or less credit score may qualify for FHA financing based on the below criteria.

Unfortunately, if you have gone through a short sale process and still have a credit score above 500, you will not qualify to purchase a new home for 3 years from the time of the short sale.

Credit Policy Enhancement: Lower Minimum Loan Scores Allowed for
FHA Purchase Transactions

The following Credit Policy enhancement is being made by Wells Fargo Home Mortgage for FHA Purchase transactions.

See Also: How Homepath Mortgage Financing Works

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