Each type of loan has different requirements regarding credit scores, income, assets, and debt. Of these options, an FHA loan may be best suited for someone coming out of bankruptcy or foreclosure. It’s possible to get an FHA loan with a down payment as low as 3.5% and a credit score...
Loan typeMinimum credit score Conventional loans620 FHA loans580 with 3.5% down payment, 500 with 10% down payment VA loansNo minimum requirement, but generally 620 USDA loansNo minimum requirement, but generally 640 Bear in mind that minimum scores can allow you to qualify for a loan in gene...
AnEnergy Efficient Mortgage (EEM)can be combined with another loan, like an FHA loan or a VA loan, to help you afford home improvements that will make your home more energy-efficient. You don’t need to requalify or make a larger down payment in order to qualify for an EEM. You’ll ...