The Fha Loan And Your Credit History.
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The guidelines for being qualified to get an Fha loan includes the credit history of the buyer. If a buyer is applying for an FHA loan on an automated system, such as on the internet, the automated system will probably approve the buyer right away if their credit score is 620 or above, but if the credit score is 620 or below, it will reject the buyer and send the information to a representative to manually work with the buyer on getting the loan. The representative can work with the applicant on improving their credit score so they can qualify for a loan under the FHA loan guidelines.