FHA Loan Guidelines for 2019

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Qualifying for a Federal Housing Administration (FHA) loan can be much easier compared with a conventional one. Borrowers will need a valid Social Security number, and be a lawful resident of legal age to be able to sign an FHA loan. Qualifying for a loan requires a minimum credit score of 500 in addition to a FHA-approved property appraisal and a favorable debt-to-income ratio.

This excerpt from Valuepenguin.com Click HERE to read more.

Visit my website stacyschnell.com for more helpful information on getting prepared to purchase a home or call me anytime, Id be happy to assist!

Stacy Schnell – Realtor Associate Cell: 856-364-0772

How to improve my credit score

  1. Keep balances low on credit cards and other “revolving credit”. …
  2. Pay off debt rather than moving it around. …
  3. Don’t close unused credit cards as a short-term strategy to raise your scores.
  4. Don’t open a number of new credit cards that you don’t need, just to increase your available credit.
If time is a factor, here are four ways to improve a credit score in 30 days:
  1. Correct any errors on the credit report. …
  2. Become an authorized user. …
  3. Raise your available credit. …
  4. Negotiate. …
  5. 1. Make minimum payments on time. …
  6. Reduce debt-to-income ratio. …
  7. Have a good mix of debt.

Call today for more information on how to get yourself prepared to purchase a

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