What credit score do you need for a Kentucky mortgage loan approval in 2024?


What credit score do you need for a Kentucky mortgage loan approval in 2024

What credit score do you need for a mortgage?


What kind of credit score do I need?  Most lenders want a 580 to 620 credit score nowadays with no bankruptcies in the last 2 years and no foreclosures in the last 3 years.  You have three fico scores from Experian, Equifax and Transunion credit reporting agencies and the lenders  will throw out the high and low score and take the middle score of the … Continue reading What credit score do you need for a mortgage?

Which Credit Score is used for a Kentucky Mortgage Loan Approval?


Credit score used for a Kentucky Mortgage Loan Approval for FHA, VA, USDA Rural Housing, KHC Down payment assistance FAnnie Mae

What kind of credit score do I need to qualify for a Kentucky Mortgage Loan?


Kentucky Mortgage Loan Credit Score Requirement. Loan Type Min. Credit Score Description Conventional 620 Most common Available from most lenders Requires private mortgage insurance (PMI) with less than 20% down FHA 500-10% down 580-3.5% down Can have lower credit scores, lower incomes, and/or higher debt Federal government guarantee and borrower-paid mortgage insurance allow lenders to … Continue reading What kind of credit score do I need to qualify for a Kentucky Mortgage Loan?

Effective on 9/18/21, Fannie Mae announced that their Automated Underwriting System will now take an AVERAGE of the two scores for qualifying


Fannie Mae announced that their Automated Underwriting System will now take an AVERAGE of the two scores for qualifying Do you and your partner have very different credit scores? Great news! You may have access to more loan program options than you thought! Here's the deal... All lenders pull FICO scores from each of the … Continue reading Effective on 9/18/21, Fannie Mae announced that their Automated Underwriting System will now take an AVERAGE of the two scores for qualifying