I get asked every day what credit scores are needed for various programs.
Here is a quick overview of the most popular loan programs, and our minimum credit scores for these programs…
FHA – Credit scores 500 to 579 – Requires 10% down, and a manual underwrite.
Credit scores 580 and up would require 3.5% down. For scores between 580 and 620 we must now do a manual underwrite.
USDA – Currently the minimum score for USDA is 580.
VA – The VA has no minimum credit score. However, most lenders have minimums starting at 620. I can go down to 560 on VA.
Conventional – 620 and up on conventional.
Hope this helps! Call me or email me if you have questions – or you need to get a loan!
That’s it for today!
Have a good day today! …and thanks for reading.
Brett
To see if you qualify for a mortgage right now – [ez_btn color=”red” url=”http://r20.rs6.net/tn.jsp?e=001ZsPIwUJX5myadWTNmLM40p3105ZmijvDiFaRrGk2pLk2d7djclcxFOoYDH4jnPL3eJxE31ln2mNnnAw0ngR6ZVSqyK469UA-NXaqmgNx4nv60si8YmjXb7hVgXOoXYQ1Vue1Rk486lymQk0v4CSfkA==”]CLICK HERE[/ez_btn] and fill out this simple application.
To sign up for my weekly mortgage quick tips – [ez_btn color=”red” url=”http://loansdonequickly.com/email-quick-tips-sign-up/”]CLICK HERE[/ez_btn].