HomeBridge has updated the list of states subject to the 620-639 credit score additional requirements on the FHA and 203(k) Streamlined programs to remove Alabama. Borrowers in Alabama, with a credit score of 620-639, are no longer subject to any additional requirements.
Additionally, the minimum credit score for a borrower on a non-credit qualifying FHA Streamline secured by a property in Alabama is now 660 (previously 680).
This change is effective immediately, including loans in the pipeline.
The FHA, FHA 203(k) Full Consultant and Streamlined, and the FHA Streamline matrices have been updated with this information and posted on the HomeBridge website at www.homebridgewholesale.com.
If you have any questions, please contact your Account Executive.