Comments on: Getting a Home Loan When You Have No Credit http://www.fhaloanpros.com/2010/02/getting-a-home-loan-when-you-have-no-credit/ The Unofficial Guide to FHA Loans & Mortgages Thu, 09 Sep 2010 20:22:32 +0000 http://wordpress.org/?v=2.6 By: john hudson http://www.fhaloanpros.com/2010/02/getting-a-home-loan-when-you-have-no-credit/#comment-84743 john hudson Fri, 19 Feb 2010 18:24:34 +0000 http://www.fhaloanpros.com/?p=1869#comment-84743 Believe me, I wish this were true. Unfortunately the secondary market is dictating a minimum 620 FICO score for borrowers in order to get a FHA loan. I serve central and south Texas as a wholesaler and there is now a huge underserved market because of this. FICO is not a lone indicator of repayment. We actually underwrite our files and did many loans for borrowers with little or no traditional credit. This loans are still performing. Unfortunately, the market today dictates a FICO score. thanks john Believe me, I wish this were true. Unfortunately the secondary market is dictating a minimum 620 FICO score for borrowers in order to get a FHA loan. I serve central and south Texas as a wholesaler and there is now a huge underserved market because of this. FICO is not a lone indicator of repayment. We actually underwrite our files and did many loans for borrowers with little or no traditional credit. This loans are still performing. Unfortunately, the market today dictates a FICO score.

thanks

john

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