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Because of the recent foreclosure crisis, new credit standards for first-time home buyers (any home buyer really) have been put into place. Depending on which side of the fence you're on, it's either a good thing, or a hindrance to buying a home.

This article will discuss FICO scores and mortgage qualifications. Following is a look back at what FICO scores used to have to be to qualify for a mortgage, and what they need to be now.

First-Time Home Buyer Mortgage Qualifications: A Look Back at Old FICO Standards

On a recent news cast, the newscaster blared from the television that some credit card companies were considering making 740 the FICO score you had to have to qualify for a credit card.

In the past, if you were dead or alive, you could get a credit card. Family pets have been known to receive credit cards in the mail as well. Really, there have been instances of dead people and pets being issued credit cards. This is how free willing credit card companies were when extending credit. Now, Bill Gates might have a problem qualifying for one.

So, what does this have to do with getting a mortgage?fha home loansfirst time home buyer loansfirst time home buyer mortgagemortgage loans bad credit