Answered

Discover answers to your questions with Westonci.ca, the leading Q&A platform that connects you with knowledgeable experts. Get quick and reliable solutions to your questions from knowledgeable professionals on our comprehensive Q&A platform. Get detailed and accurate answers to your questions from a dedicated community of experts on our Q&A platform.

Kelsey and Jerrod have a housing ratio of 30% and a total debt obligation of 41%. Their credit score is 640. Do they meet the underwriting requirements for an FHA loan

Sagot :

Parrain

Based on Kelsey and Jerrod's total debt obligations, housing ratio, and credit score, They meet the underwriting requirements of an FHA loan.

What are the underwriting requirements of an FHA Loan?

The applicants must have a credit score of above 500. They must also have a total debt obligation of 43% or less and a housing ratio of not more than 31%.

Kelsey and Jarrod have the required credit score, total debt obligation and housing ratio so they meet the requirements.

Find out more on FHA loans at https://brainly.com/question/1191495.

We hope this information was helpful. Feel free to return anytime for more answers to your questions and concerns. Thank you for your visit. We're dedicated to helping you find the information you need, whenever you need it. Stay curious and keep coming back to Westonci.ca for answers to all your burning questions.