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. Otherwise, if you already have an account established with a bank and have a standard credit situation (high median FICO score, low debt-income ratio, etc.) then they probably have some good programs, too, especially credit unions. ... Question : Where can I find the lowest mortgage rates and refinance rates in the USA on the internet? Do you think the rates have hit bottom? We like to use a local mortgage broker but the last time they did not over us the lowest rate out ...

  1. ... homeowners who are looking to refinance into a safer, more secure mortgage product." Participation in FHA's refinance program is voluntary and requires the consent of all lien holders. To be eligible for a new loan, the homeowner must owe more on their mortgage than their home is worth and be current on their existing mortgage. The homeowner must qualify for the new loan under standard FHA underwriting requirements and have a credit score equal to or greater than 500. ...

  1. The first thing you should do is an analysis of your debt to income ratio. This important step will let you know what type of Florida home you can afford and how much your current obligations will allow you the apply for based on your ... With an FHA home loan here are no income limitations or minimum credit score requirements when FHA insured mortgage. This is why FHA loans are among the easiest mortgage loan to qualify for and almost anyone can qualify as long as they ...