My wife and I had to jump through a lot of hoops to get an FHA loan. We ended up borrowing approximately $625,000 @ 6.75% but our income is north of $250,000 and our credit is almost at 800. I honestly don't know how most people will secure loans. We had to provide reams of documentation about things I felt had no relevance on our ability to pay our mortgage.
My wife and I had to jump through a lot of hoops to get an FHA loan. We ended up borrowing approximately $625,000 @ 6.75% but our income is north of $250,000 and our credit is almost at 800. I...
What It Takes To Qualify For A Mortgage In A World With Standards
My wife and I had to jump through a lot of hoops to get an FHA loan. We ended up borrowing approximately $625,000 @ 6.75% but our income is north of $250,000 and our credit is almost at 800. I honestly don't know how most people will secure loans. We had to provide reams of documentation about things I felt had no relevance on our ability to pay our mortgage.