Good Income Low Fico Mortgage - If you have a good income but a low fico score and need a mortgage there are options availible. FHA is a great place to start, since FHA is not based entirely on credit score you have a great chance of qualifying. It is a strong compensating factor for and FHA mortgage to have a good income and low debt to income ratio.

There is a program that is offered by Fannie Mae, or FNMA, that is called the My Community program. This program will assist with consumers who have good income but have a low fico score and still want a mortgage loan. The FNMA My Community Program is a program that has a few similar attributes to some of the FHA underwriting guidelines. Therefore, if you want to obtain a conventional loan submitting your loan on the My Community program may be a viable alternative to an FHA loan if you have a low fico score and good income.

 

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