[quote=SDEngineer]
They do, however, enforce reasonably conservative limits on your income (31/43 DTI ratios are their standard, although with someone with substantial reserves it can go a bit higher), so you’d need about 200K of provable income to qualify for their max.[/quote]

Can anyone confirm 31/43 DTI ratios? Someone on this forum claimed that Fannie/Freddie easily go to 55% on conforming, I think it’s 45% on jumbo-conforming. Why would FHA be much more conservative?

620 score is a joke. I managed to get my credit history wiped out by accident because of a name change. One year and one car loan later the score was in high 600’s. It’s hard to get your score below 620 without doing something harsh like repeated 90+ days past due on your credit cards.