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Misinformation is out there again – this time about FHA mortgages

March 8th, 2009 · No Comments · fha mortgages and first time home buyers, macomb county mi real estate market, tips for home buyers

I don’t know why I am surprised. I shouldn’t be.  Just when it looks like things are settling down out there in the rumor world a new one catches my ears (and eyes.)

This time a prospective buyer in the Metro Detroit area was told that the new FHA guidelines include a credit score minimum of 700.

WRONG. Oh so wrong.

FHA has tightened up their credit score guideline, yes, but as of Friday (March 2009) it is at 620.

620.

Please don’t let misinformation frighten you from applying for an FHA mortgage. or any other type of mortgage.   If you want a recommendation to a local mortgage expert please give me a call or send me an email.   I’ll be happy to send you contact information for those in our area (Metro Detroit) that are knowledgeable, keep up to date on mortgage program changes, and will discuss your options for you in a non-pressured setting.  No obligations – just honest advice.

~Kris Wales~  A Macomb County MI real estate agent.

(586)536-5453

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Important copyright information: All photos were taken by Kris Wales. Do not copy and use photos for your own use, whether it be for personal or commercial purpose. All articles were written by Kris Wales. Once again, do not copy and use for your own purposes. Important disclaimer: Views expressed on the blog by the author and commenters do not express the views of Keller Williams Realty. All information contained is deemed to be reliable at the time of posting but not guaranteed.