Gonzales Realty Group, Inc.

Fun Fact #1 For FHA loans: The Federal Housing Authority, has a credit score minimum of just 500 in order to be eligible to apply for an FHA-backed mortgage loan. A report found that in 2013 however, borrowers with scores in the low 500’s accounted for less than 1% of the total number of mortgages written so it’s clear that just because you meet their minimum score requirement, you won’t necessarily qualify for a loan. The FHA requires that an applicant’s credit history be clear for the 12 month period prior to any loan, so if you have items in collections, you need to clear those before applying for an FHA mortgage loan. Call Today! (760) 694- 9070