The minimum credit score now for FHA is 620, but the proposed increases would take that to a minimum of 640….
Excerpt from:
Tax Credit has increased Real Estate Sales
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?It is clear that the federal tax credit for homebuyers worked well in 2009 and is continuing to drive home sales,? said C.A.R. President Steve Goddard. ?The homebuyers' tax credit is arguably the most successful strategy employed by the ... Since then, the median home price has increased steadily in month-to-month comparisons, but remained below 2008 levels throughout 2009. The annual median price is projected to increase to $280000 in 2010 from $271000 in 2009, ...