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The proprietary loans are jumbo reverse mortgages, with loan amounts up to $2.25 million. Like HECMs, these new loans don’t let homeowners owe more than the value of their home. Increasingly,

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Fha Loan Minimum Credit Score This year, the FHA plans to impose a minimum credit score requirement. be required to have cash reserves equal to at least one monthly mortgage payment. borrowers with credit scores below 620 would.

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Grants for New Homeowners. by Lisa Magloff .. To qualify, in most cases you must have already arranged a mortgage loan through the FHA. In addition, you must meet the income and other requirements of the individual program. Check with the FHA for a program in your area (see Resources).

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