FHA FICO Scores

FHA loans are tremendous options for borrowers, particularly when FICO scores come into play. FHA loans are mortgages that are insured by the FHA. The agency essentially tells banks they will pay the loan if you don’t, which eliminates most of the risk. FHA loans are also good for you, however. This is particularly true if you have mediocre or bad credit. Why? Your credit score, known as a FICO, is given short shift in the loan decision process. Yep, your poor credit will not kill you. Pretty cool, eh?