The 2003 credit score cutoff caught me off guard

I was digging through old paperwork from a house I tried to buy back in 2007 and found a lender note saying my 640 score was 16 points short of their cutoff for a no down payment FHA loan. Turns out that cutoff changed after 2003, and I never knew because nobody explained it at the time. Has anyone else hit an old rule that no longer applies but still shaped their credit path?

2 comments

2 Comments

singh.harper5d ago

Exactly, and that secrecy part still bugs me years later.

fiona_carr265d ago

Whoa, 16 points?! That is brutal. I can't believe they didn't even tell you what the cutoff was until after you'd already gone through all that paperwork.