Minimum Credit Score Needed For A Conventional Loan…

When I look back on my blog posts over the years the most widely read posts consistently have to do with credit.

People want to know the minimum credit scores they need to get the loan program they are interested in.

Today I wanted to address the minimum credit scores needed to get a conventional loan through my office.

You will need a minimum credit score of 620 to get a 97% loan up to $417,000. (conforming loan limit in Texas)

You will need a minimum credit score of 620 to get a cash out loan on owner occupied property in Texas. (max 80% loan to value ratio)

For Jumbo loans (amounts above $417,000) you will need a 620 score to get a 80% loan to value ratio loan. In other words you would have to put down 20% on a jumbo purchase with this credit score.

There’s more to getting a loan of course than just the credit score. …but it’s a good place to start, and at least now you know what you need.

Please call me or email me if you have additional questions about your situation.

That’s it for today!