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

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08-03-2022
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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

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Parrainidn Parrainidn · Answer 1 · 2022-03-15T08:52:11-04:00

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.

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What are the underwriting requirements of an FHA Loan?

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