topic Re: What are the minimum FHA/Va Loans Fico Score? in Mortgage Loans

What are the minimum FHA/Va Loans Fico Score?

Anonymous — Sun, 15 Feb 2009 01:28:56 GMT

What are the current minimum score for a FHA or VA mortgage loan. Looking to borrow around $80 - $85k

Thanks

Message Edited by jdbaker73 on 02-14-2009 05:28 PM

Re: What are the minimum FHA/Va Loans Fico Score?

DallasLoanGuy — Sun, 15 Feb 2009 01:37:14 GMT

depends on the lender.

below 600 pays a few points to get 6%

a handful of lenders will go down below 580, but it is hard.

what is your score?

Re: What are the minimum FHA/Va Loans Fico Score?

Anonymous — Sun, 15 Feb 2009 01:41:46 GMT

Last pull by loan officer was 596 Equifax, just got notification today of an eight point increase. LO said Fico's had to be above 620, but was wanting second opinion.

Re: What are the minimum FHA/Va Loans Fico Score?

Anonymous — Sun, 15 Feb 2009 02:25:10 GMT

Our lender told us last week 600 but it would be going to 620 very soon. Now his company is requiring 620 because they don't want people to be preapproved at 600, then have it fall through at the last minute because it was raised to 620. Good luck, you're almost there! (PS - If you move quickly, you can probably still get approved if you check with another lender - Countrywide told me 580 last night when i called them and Quicken Loans said 600)

Re: What are the minimum FHA/Va Loans Fico Score?

DallasLoanGuy — Sun, 15 Feb 2009 02:40:39 GMT

@Anonymous wrote:
Last pull by loan officer was 596 Equifax, just got notification today of an eight point increase. LO said Fico's had to be above 620, but was wanting second opinion.

not all lenders....