1. Credit Report And Credit Scores And How It Is Analyzed By Lenders * There are minimum credit scores required to qualify for government and/or conventional loans.
* Here are the credit score requirements:
- FHA requires a minimum credit score of 580 for 3.5% down payment home purchases
- VA does not have minimum credit score requirements
- However, it is recommended that veteran borrowers have 580 to get an approve/eligible per Automated Underwriting System approval
- USDA requires 580
- Fannie Mae and Freddie Mac require 620 scores for Conventional Loans
Home Buyers and/or Homeowners who need to qualify for a mortgage with a direct lender with no overlays, contact us at The Gustan Cho Team at Loan Cabin at 262-716-8151 or text us for faster response. Or email us at gcho@loancabin.com. We are available 7 days a week, evenings, weekends, and holidays.
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