Question by mysery0125: Why do some institutions deny FHA based on credit scores?
FHA does not require credit scores. 2008 guidelines show this.
I was told that anything below 580 was going to get denied. 2008 guidelines state that credit scores are not a factor.

Even if they don’t require “scores”, they still have to review your creditworthiness and the only practical way to do that is based on the information contained in your credit file.

6 of one, 1/2 dozen of the other.

I think the person that told you “580″ was probably pulling that out of the air, but the reality is that there’s a 99% chance that someone with a 580 has derogatory info in their credit file, so it was based on an educated guess, kind of thing.

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