October 10th, 2009 12:34 PM

The Federal Housing Agency allows borrowers to get approved without a high credit score and only 3.5% down. The flexible qualificiations still require documents and verifiable proof that monthly payments can be paid. FHA reviews the borrowers broader financial picture, not just the credit score. The borrowers rental history has impact! Anna Maria a reporter for Smart Money explains FHA mortgages and the difference from subprime: SmartMoney.com

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