So on March 18th FHA made some big changes, specifically related to transactions with credit scores below 620. With these changes, borrowers with scores below 620, are far more likely to have their files Underwritten with more scrutiny not allowing the same leniency as before this change was implemented. The main result of this change…is the amount someone will be approved for, and is directly tied to the Debt to Income calculations. There are some instances where even a file with below a 620 score MAY go higher, but compensating factors such as reserves are required to do so. Having the knowledge to navigate the loan programs and being up to date on the latest changes are another reason why you need to be making sure you’re working with a trusted local mortgage professional, so call me today.