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Tag Archives: Buyer

New FHA PURCHASE Guidelines — Credit Scores below 600 now allowed with more down payment

  From Steve SchraderBachar, Wells Fargo Home Mortgage ”The following Credit Policy enhancement is being made by Wells Fargo Home Mortgage for FHA Purchase transactions. Credit Policy on or after Jan. 15 Minimum loan score and LTV allowed for Purchase transactions: Loan score lower than 500 = not allowed Loan score 500 – 579 allowed […]