If you asked a loan officer what the minimum credit score was for a Conventional loan they would tell you 620.
That is true for Fannie Mae. …However, it’s not necessarily true for Freddie Mac.
If we can get an automated approval with Freddie Mac with a credit score under 620 – we can do the loan!
Keep in mind you won’t be able to get mortgage insurance on a Conventional loan with a score under 620, so the loan to value ratio would have to be 80% or less.
So, if your credit score is in the high 5’s or low 6’s, and you want a Conventional loan – give me a call or shoot me an email. …maybe we can help you out!
That’s it for today!
Have a good day today! …and thanks for reading.
Brett
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