does fico score matter for HUD home loans?
I was told to get a HUD Home loans, all you need is a stable job and to file income tax. Does anybody know what the requirements are, and how can i become about applying for one for this loans?
- 8 years agoFavorite Answer
Yes your FICO will matter. Your realtor and all the lenders you talk to while getting estimates of their costs will explain what each of them require for loans though HUDs requirements are uniform...and more restrictive in ways.
- acermillLv 78 years ago
Certainly your FICO scores will matter, regardless of what type of loan you want to procure. Whomever told you that your credit scores are not important in HUD loans was quite incorrect. You will need a minimum score in the 625 range.
- kalarovichLv 43 years ago
Getting you loan will decrease your credit temporarily considering you have a sparkling line of credit. Paying your expenses on time consistently is a thank you to strengthen your credit.
- LandlordLv 78 years ago
Of course it matters. All is states is how you handle your bills.