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
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