Page 1
Page 1
Started By
Message
locked post

What is the lowest credit score needed for a conventional loan?

Posted on 2/27/13 at 4:13 pm
Posted by bringonusc
Owasso, OK
Member since Aug 2007
3767 posts
Posted on 2/27/13 at 4:13 pm
Is it 720 or can you get one with a 675?
Posted by TheTigerZone
Moss Bluff ,La
Member since Dec 2009
2343 posts
Posted on 2/27/13 at 4:19 pm to
680 is the lowest allowed. Anything over 715 would be best.
Posted by bringonusc
Owasso, OK
Member since Aug 2007
3767 posts
Posted on 2/27/13 at 4:29 pm to
Perfect! Thanks!
Posted by JonTheTigerFan
Central, LA
Member since Nov 2003
6783 posts
Posted on 2/27/13 at 5:48 pm to
The credit score for conventional isn't the problem. The problem is finding someone to do your PMI through if you want to put less than 20% down. My credit union goes down to 640 or 660.
Posted by bringonusc
Owasso, OK
Member since Aug 2007
3767 posts
Posted on 2/27/13 at 6:23 pm to
quote:

My credit union goes down to 640 or 660.


Is this with 20% down or without?
Posted by ragacamps
Member since Jan 2011
2997 posts
Posted on 2/27/13 at 9:38 pm to
Whats the lowest for VA,FHA,rurual????
Posted by wegotdatwood
Member since Aug 2009
17094 posts
Posted on 2/27/13 at 9:56 pm to
quote:

Whats the lowest for VA


620
Posted by JonTheTigerFan
Central, LA
Member since Nov 2003
6783 posts
Posted on 2/27/13 at 10:33 pm to
quote:

Is this with 20% down or without?


I think they require 5% down.
Posted by novabill
Crossville, TN
Member since Sep 2005
10430 posts
Posted on 2/28/13 at 12:40 am to
Here you can see the cost of MI based on amount of down payment and credit score. Lots of misunderstanding about what you can and cannot do regarding a home loan.
LINK
Posted by novabill
Crossville, TN
Member since Sep 2005
10430 posts
Posted on 2/28/13 at 12:42 am to
quote:

Whats the lowest for VA,FHA,rurual????

Most will tell you 640, however we just lowered our minimum to 620.
Posted by foshizzle
Washington DC metro
Member since Mar 2008
40599 posts
Posted on 2/28/13 at 1:08 am to
quote:

we just lowered our minimum to 620.


Surely you are selling these off as soon as possible.
Posted by JonTheTigerFan
Central, LA
Member since Nov 2003
6783 posts
Posted on 2/28/13 at 1:41 am to
The lender I just went through would go down to 620. They sell them off within 3 months.
first pageprev pagePage 1 of 1Next pagelast page
refresh

Back to top
logoFollow TigerDroppings for LSU Football News
Follow us on Twitter, Facebook and Instagram to get the latest updates on LSU Football and Recruiting.

FacebookTwitterInstagram