Sentences with phrase «satisfactory payment history»
A Recovery is considered full if, «the borrower's credit history is clear of late housing or installment debt payments, and major derogatory credit issues on revolving accounts; any open mortgage is current and shows twelve (12) months satisfactory payment history.
iloanhomemortgage.com
The FHA homeowner will also need to have a satisfactory payment history for the most recent 12 months, with no 30 - day late payments.
At the time of application, borrowers must demonstrate a satisfactory payment history: Applicants for streamline refinancing must have made at least six payments on the mortgage being refinanced.
The FHA recommends having a satisfactory payment history of at least one year before applying for a loan.
The FHA recommends creating a satisfactory payment history for at least one year before applying for any FHA loan program.
The FHA homeowner will also need to have a satisfactory payment history for the most recent 12 months, with no 30 - day late payments.
Demonstrate a satisfactory payment history on each loan requested for release immediately before applying.
Lenders generally prefer to see some type of satisfactory payment history.