Mortgage News

Major Change to Credit Score Requirements

March 4th, 2014

Major Change to Credit Score Requirements

Big news! Tidewater Home Funding works with banks that recently reduced their FHA credit score requirement.  

What does this mean for you? 

The FHA (Federal Housing Administration) program is a popular loan for many first-time home buyers because you only need to put down 3.5%. Now, the minimum credit score to qualify for an FHA loan with certain banks is 600 (previously 640). That means potential home buyers who did not qualify before may qualify now.  

Read more here about the credit score change.

Email me today to learn more about this announcement. I am happy to answer any questions you have.