I get asked every day what credit scores are needed for various programs.
So… I wanted to give you a quick overview of the most popular loan programs, and our minimum credit scores for these programs…
FHA – I can do FHA down to 580 credit score on a manual underwrite. If your score is over 600 – I can now do an automated approval for FHA!
USDA – I can do USDA down to a 600 credit score.
VA – Can go down to 600 for a manual underwrite.
Conventional – You will need a 680 to get mortgage insurance on a conventional loan if your loan to value ratio is over 80%. If it’s under 80%, then I can do conventional loans down to a 620.
Hope this helps! Call me or email me if you have questions – or you need to get a loan!
That’s it for today. I hope you have a good day. Thanks for reading this email!
Brett