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So you are getting an FHA loan. This type of loan doesn’t go with the gleurar conventional loans. It’s a government loan and it typically gets an approval 5 days after being fully’ submitted. I’ve dealt with some FHA loans before and this consists of layered financing. If you happened to be getting more than one loan (especially if you are purchasing a home and getting 100% LTV Loan to Value), it will require more time, since there would be several groups of Underwriters that would need to review the loan.The final approval however is being done by a PMI underwriter (PMI private mortgage insurance). In many cases, the layered financing consists of CHDAP (California Housing Downpayment Assistance Program), CHAP (California Housing Assistance Program). The turn around times to underwrite these are 24-48 hours.To answer your question what your credit history is only the first step in reviewing your loan. If you have a copy of your credit report (which you should always ask a copy from your loan officer), it would tell you if you have a good credit standing. Usually, most credit reports reflect the Derogatory Items’ in your credit history first. Items like, being delinquent for 30 days or more, mortgage lates, disputed accounts, charge-offs, bankruptcy, foreclosures, lien against your property, tax liens etc .The next thing that will be looked upon is the Credit Score. This ranges from 300-850. You are on their good side if you have 700 or higher (usually discounts starts from 720 score up). 620 is the danger zone and you will most likely be in the running for more documentation. Since you are getting an FHA loan, I couldn’t think of another loan that requires full’ documentation as much as FHA (except for CALHFA and probably a VA loan).The third thing to be looked at is your trade history. Since the first one and the third one has already been reviewed by the three credit bureaus (Equifax, TransUnion and Experian), the only thing to think about is how FHA approves each loan. If their guidelines say that 620 is the minimum credit score required and that if you don’t have any mortgage lates or the likes, you shouldn’t worry too much then.As the person before me mentioned, income, LTV loan to value, CLTV combined loan to value, DTI (debt to income) ratios, PITI (Principal, Interest, Taxes and Insurance), PMI (private mortgage insurance), and reserves will be in consideration.An FHA loan does not get an Automated’ approval. You should have received the ’3 day docs’ by then and it will state the terms. +2Was this answer helpful?