could i qualify with a 640 fico for fha

That's a trick question. Most will say yes, since the majority of lenders require a 640 or above but FHA technically does not have a minimum fico requirement.. they just say if your score is below 580 you have to put 10% down. But FHA does not lend money... they only insure loans against default.. The lenders, or those with the $$$ will often have their own set of rules.. it's these "Overlays" that require a minimum credit score.. Lenders run a Tri-Merge credit report... or a combination of all 3 major credit reports.. they take the lowest MID score of all borrowers, and your loan is priced accordingly.. but understand that the credit score is just one of about a hundred different things a lender looks at to determine one's eligibility.. You could have a 750 credit score but have one credit deficiency and still not get approved.. The best advice I can give you is to contact a LOCAL mortgage broker and apply with them. Once they see your complete profile, they would be able to tell you if you can get financing or not. Do not use the local "Big" bank, or one of those 50 states internet lenders or nationwide lenders...By applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Yes... That is a low scores, but acceptable with most lenders for an FHA loan. But remember, score alone does not an approval make, so be sure to let a lender review a full application before you get too far down the road. www.WI-MortgageBroker.com

Yes we are able to go down to 620, Inlanta Mortgage 608 662 0860 Aiman Abozeid 237450 NMLS

I am a local broker in Appleton, WI. I have multiple sources that will do FHA financing down to as low as 560. If you are in the 560 to 580 range, you would need a 10% downpayment. If you are in the 580+, you only need 3.5% as a downpayment. There are specific requirements to the program, but the main thing is the ability to verify rent for the preceding 12 months as on time. Our rates on these programs are excellent, noting the scenario. I would be happy to provide a free pre-approval. My name is Joshua Wachowiak, and I am of course licensed in Wisconsin and am the Branch Manager of Sierra Pacific Mortgage in Appleton. You can reach me at 920-277-3595 and or email me at joshua.wachowiak@spm1.com

As long as you meet the income, employment and assets guidelines, you should qualify. Let's discuss your loan scenario in more detail. Contact me at 800 315 8803. My name is Jamie and I have been in the mortgage business since 1989. I am happy to answer your mortgage questions, 7 days a week and review your loan scenario. Until then, I look forward to hearing from you. Jamie Lynne - www.bartprequalifies.com - email Jamie@bartprequalifies.com - 800 315 8803

640 credit should get you a new FHA home loan. Like most replies, it is just the start. You need to speak to a local mortgage professional and get a complete pre-approval. Only then will you know what you can afford.My office is in Green Bay and I would love to get you started on your home search.Click my link and call or go online for an application.Best of luck!

Yes there are plenty of lenders that will accept that credit score, you still need to meet all their requirements as well. 580 credit score seems to be the bench mark .

You've seen that a 640 mid-score should get it done... as long as everything else is in line. The trick is to sit down with a local professional "mortgage guy" to review the big 3: credit, income and assets. Only then can someone confirm if you're "approved". Good luck. If you're on the west side of the state... I've been working with lots of WI homebuyers for the last 12+ yrs. Steven Brand 612.386.5306

Ollie, Did you purchase a home yet? We are able to consider financing a home down to a 580 middle credit score. And 1 year our of Bankruptcy & Foreclosure under the certain circumstances. Please contact me if you would like to discuss your situation further. Sincerely, Mandy Fritsche, Prospect Mortgage, Mortgage Loan Officer, NMLS# 557211I am able to originate in WI262-327-5700 Cell, 877-868-9198 Fax, mandy.fritsche@prospectmtg.comwww.MyProspectMortgage.com/mfritsche