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[18 Oct 2014 | No Comment | 2,663 views]
Wells Fargo Lowers Credit Score Requirements for FHA Loans

A move by Wells Fargo Bank to lower the bar for certain government-backed mortgages is stirring hopes of home-ownership among people with credit scores battered by the recession. The San Francisco-based bank, which is the country’s biggest mortgage lender, said recently that it would begin accepting scores of 600, down from 640, for FHA and VA loans, which require as little as a 3.5 percent down payment.