For conventional loans you usually need a minimum credit score of 620 or higher to qualify. Exceptions occasionally apply. Government-backed loans may allow you to borrow with a lower credit score. Understanding your credit score is key to getting a favorable mortgage interest rate. You may k...
Wells Fargo to Raise Minimum Credit Scores on FHA LoansWells Fargo is raising minimum credit score requirements on Federal Housing Administration loans, part of the ongoing jockeying by large banks to limit lawsuits by the Justice Department for defective FHA loans.Berry, Kate...
What Is the Minimum Credit Score Needed for a Mortgage Loan? Typically, a minimum score of 620 is needed for a mortgage loan. Some federal programs allow a credit score as low as 580, but there might be eligibility requirements.8 How Can I Get Help With a Down Payment? Down payment ass...