Minimum Credit Score Needed For Various Loan Programs…

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 620.

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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