General Question

Roadtodebt's avatar

What are the qualifications for an fha loan?

Asked by Roadtodebt (534points) June 6th, 2017
4 responses
“Great Question” (0points)

If you credit score is really bad but you repair it to an extent, I mean if I can get it to around 620 can you qualify for an fha loan in GA? I also have 2 old bank accounts that were closed due to overdraft fees that I never paid (also debt) should I pay these? It’s not on my credit score as a debt or collection but I’m not able to open any new bank accounts because of it… I have filed bankruptcy once as well, over 4 years ago. Is there any chance I can ever qualify for an fha loan

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Answers

ARE_you_kidding_me's avatar

Why do you want an FHA loan?

Roadtodebt's avatar

Lower down payment, first time buyer ..

Tropical_Willie's avatar

I’m going to yes, because my first house I had a score of 625 and they didn’t flinch! But fix what was broken from other bank accounts (overdrafts) You are going to need a bank account. It may take a time, maybe several months to be able to open new account.

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