Credit Reports Are a Key Part of FHA Approval in 2014

SOURCE: Mortgage News Feed

In the market for an FHA loan? You’re not alone. This program has become one of the most popular financing options for home buyers, especially for first-time buyers who don’t have much in the way of down-payment funds.To get an FHA approval in 2014, you’ll need to have a pattern of responsible financial behavior. How do lenders measure this? With your credit reports and scores.Much has been written about the importance of credit scores, when it comes to getting approved for a mortgage loan.

To read the entire article, please visit:

About The Author

Each week we post articles on FHA/VA Government news topics, ranging from FHA Direct Endorsement Underwriters, to current FHA underwriting guidelines, to new FHA rules/regulations, FHA compliance, FHA lending requirements and much more! PLEASE NOTE: We are NOT owned, operated or affiliated with HUD, FHA or the Federal Government in any way.

Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.