What credit score do you need to qualify for an FHA mortgage refinance?

My husband has a 610 and I have a 683. We have 10% equity in our home. Our current lender says he needs a 620 to qualify for FHA (but a few months ago when his credit was 577 the lender said it just had to be 580). Are they trying to play us for fools here?


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Related results on What credit score do you need to qualify for an FHA mortgage refinance?

  1. FHA regulated closing costs. Seller can credit up to 6% of sales price towards buyers costs. Easier Credit Qualifying Guidelines such as: Minimum FICO credit score of 540. FHA will allow a home purchase 2 years after a Bankruptcy. FHA will allow a home ... FHA cash-out refinancing mortgage may offer lower interest rates than traditional home equity loans; you may qualify for one of two FHA mortgage plans which offer cash-out refinancing. One offers loan amounts for up to ...

  1. The Government of the United States is guaranteed by the fact that the mortgage FHA (Federal Housing Administration) home loans. These loans are not really. ... A good credit rating is also a prerequisite for all applicants. The FHA requires that you must be able to demonstrate, from your credit report, that over the past two years, you do not have a single payment for more than a month late. 4 No history of bankruptcy should show your credit report. If you have a failure ...

  1. However it is to say that you will be more probably to be accepted for a FHA mortgage loan than the usual conventional mortgage when you have average or substandard credit rating, such as a bankruptcy, as well as lower than 20% for a down payment. ... Having an FHA 203K Mortgage may help individuals who have to renovate their present homes by acquiring financing to do. Also, home buyers may use these mortgages to buy and rehabilitate a pre-existing house in another place. ...