HomeBridge is pleased to announce the following updates to the FHA No Credit Qualifying Streamline program:
- HomeBridge will no longer require Section IV – Employment Information be completed on the 1003 application and employment verification is no longer required.
- HomeBridge is reducing its credit score requirement to 660 in the following states:
- Alaska, Connecticut, Florida, Indiana, Kansas, Kentucky, Louisiana, Michigan, Minnesota, Mississippi, New Mexico, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania,Rhode Island, Utah, and West Virginia (all previously required minimum 680).
- The state of Maine now requires a minimum 680 credit score (previously required minimum 660).
These updates are effective with loan applications dated on or after May 1, 2013.
The FHA Streamline matrix has been updated and posted on the HomeBridge website at www.homebridgewholesale.com.
If you have any questions, please contact your Account Executive.