Home Purchase Requirements 2017

Home Purchase Requirements 2017

What's the minimum credit score to purchase a home?

The answer is. It depends on who you ask.

All the major banks Wells Fargo, Bank of America, Chase, Citigroup, etc. have minimum credit score requirements. When you apply for a mortgage at a major bank and they tell you their minimum credit score requirement is 640. This does not mean that it's the minimum credit score. It means that they are the bank's minimum credit score requirements.

After the financial crisis of 2008 all the major banks raised their standards for approving loans. Because the banks make the rules for loans they will approve, they may require a minimum credit score of 640 for their loans. These guidelines are the bank's guidelines. What this means is, all the major banks including Wells Fargo, Bank of America, Chase, Citigroup, etc. banks make the rules for loans they will approve.

Today’s historically low interest rates make now the perfect time to purchase a new home or refinance.

One of the most popular types of mortgages is the 30-year fixed-rate mortgage. This loan is usually the easiest to qualify for and provides the maximum interest deduction at tax time. The interest rate stays the same over the life of the loan which provides unchanging low monthly payments.

Home Purchase Requirements 2017

Apply Now!

Call us 888.958.5382

Apply Now!

Call us 888.958.5382

FHA purchase FHA refinance FHA 203k loan FHA cash out $100 down loan

FHA loan requirements - ‎FHA loan limits - ‎FHA loans - ‎FHA Streamline

Mortgage World Home Loans is an online mortgage company specializing in FHA loans for first time home buyers. To buy a home with 3.5% down payment and a minimum credit score of 580 using an FHA loan, apply now.

We look forward to working with you.

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