Did You Know That FHA Does Not Use FICO Scores?

Yep it's true.

FHA is NOT based on your FICO Score.

Before you decide to stop paying all your bills and then apply for an FHA loan, that's not what it meant.

FHA is still based on credit history just not the way the credit bureaus report it. Typically a low score is based on one of two reasons. One because you don't pay your bills plain and simple, Two because you lack Traditional Credit History like a credit card...

The first one can prevent you from getting an FHA loan but the second will not. You can alternate trade lines such as utility bills and other forms trade lines that can be verified.

But it is a full document loan. Meaning all the other items need to be verified, such as income.

So if lack credit you can still buy a home.