Edge Blog

FHA has once again tightened up the financing guidelines in an effort to minimize mortgage risks.  Effective Sept 1, 2009 buyers must now have a minimum 620 credit score.  This is quite an increase, potentially shrinking the qualified buyer pool.  However VA loans require a minimum 600 credit score and still allow 100% financing. 

Gone are the days of purchasing a home on a wing and a prayer.  As a future home buyer, buckle up your budget, save money, reduce debt, and work on improving and maintaining a solid credit score.  For helpful tips on quick credit score fixes check out this link: http://articles.moneycentral.msn.com/Banking/YourCreditRating/7FastFixesForYourCreditScore.aspx