FHA Legal Requirements for Closing HUD Form

Instructions and help about FHA Legal Requirements For Closing HUD

[Music] hi my name is alex cody with gustonshow.com i want to talk to you about people with low credit scores bad credit behavior with the guidelines say and uh when it comes to conventional loans the computer has to approve you that's just the way it is but with fha and va there's a thing called manual underwriting which has guidelines now fha has got guidelines for approved eligibles with the computer approves you too but let's go over the manual underwriting guidelines so because that's where most of our businesses come from people who are not getting approved by the computer because people get denied from the computer don't have a lot of options and there's guidelines for fh and va want to lend to you so if you've got a low credit score we can go down to 500 and only if your credit behavior fits a certain type of thing so for va loans it's the best is only looking at one year you can be a god-awful mess for 10 years and then the last 12 months your life's back on track you've caugh