There are new FHA rules on the horizon --- Buyers will need to have a minimum credit score of 580 to qualify for a 3.5% down payment. With lower scores there will be a minimum down payment of 10% down. With this --- they have disclosed the average credit score of FHA-insured buyers is 693.
If you have a lower credit score, you may want to jump into the real estate market NOW, these rules are slated to be in effect spring or early summer.
Joan Cox, GRI,ABR,CRS,e-Pro
Metro Brokers - House to Home, Inc.
Denver, CO 80237
720-231-6373
www.JoanCox.com
About Me
- Joan Cox
- Denver, Colorado, United States
- With 13 years in real estate, I specialize in relocation, new construction, investor purchases, first time homebuyers and sellers. Ask me about my web site! Call today - 720-231-6373 In August 2009 I opened MY OWN Metro Brokers office in the Tech Center.
