The ^ symbol is called a caret. Microsoft Word Symbols calls it a Circumflex Accent which is what that symbol is called when placed above a letter in French in words like foâ¦rÃªt. A caret is often used to show where information or text should be added, when proofreading and editing.
If your credit score is over 580, then you can get an FHA loan with a down payment of 3.5%. As of 2015, there is at least one lender approving FHA loans for borrowers with scores down to 550, with an LTV maximum of 90%. For borrowers with sub-620 scores, the lenders have tougher requirements.
Your credit history and score also factor into the decision. Ample income isn't enough to obtain a construction loan. Loan companies have specific credit requirements, and the higher your credit score, the better. Aim for a credit score of 680 or higher if you need a construction loan up to $417,000. For loans that exceed this amount, you need a score of 700 or higher. You can order your own credit score from Myfico.com. If your credit does not meet a construction lender's minimum requirement, take steps to improve your score.