I plan on purchasing a house within the next 6 months. I don't think my credit score is high enough. There are only 11 items on my report-- 8 in good standing the other 3 are charge offs. Please tell me what I need to do to purchase a home.
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Best Expert Answer
FHA guidelines have a minimum, but lender standards are often higher than the minimum--you may find that lenders are looking for FICO scores at 620-640 or higher. Call the FHA directly at 1-800 CALL FHA and request a referral to a local HUD-approved housing counselor who can help you with pre-purchase planning for an FHA mortgage loan, especially when it comes to credit issues and requirements.
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