As of October 4, 2010, there was yet another change made that affects FHA loans. The minimum credit score was raised from 620 to 640. This will affect potential buyers that had marginal scores before these changes took place. Now it is definitely important to review your credit report and obtain pre-approval before getting too deep into your home search.
This information was provided courtesy of Angie McKinney with Supreme Lending.
Click to see our original post, ” New FHA Loan Changes” from Sept. 28th.
Source: Angie McKinney- Supreme Lending