Navy Federal Credit Union

[BAB_Bryan]

Hey Guys,

My wife and I are trying to get a Mortgage.  Had some ugly child support issues over the last 10 years and just got a substantantial raise in December which freed money to catch things up and get a couple deletes with full payment.  Anyway, I just opened an account with Navy Fed CU and moved the saving for the house downpayment to the savings there.  Does anyone know what score they would be looking for on a Jumbo (~$500K) Mortgage.  The lady that opened my account said min 620, but maybe 640.  My debt to Income works great for what we want.  I assume that would be a mid FICO 2,4,5 Mort like all other Mort lenders use.  Anyone have information on this?

Thanks

[me12345]

Looked over the web site and couldn't find any info about FICO score requirements.

typically Jumbos have a higher minimum threshold then Conforming loans, so I would contact them again and find someone who know what the answer is. (I hope that you were not talking to an LO the first time)

Thanks,

[homeloanexpert]

NFCU requires a minimum 640 for their regular VA loan products. I know because I fund a bunch of their turn downs. I beleive their credit score requirements are higher for jumbos. You better clear that up with your LO ASAP. We go down to 550 across the board for our VA's and down to 500 case by case. PM me if you have any further questions.

Best Wishes!

[CreditInspired]

Hi OP

When applying for any mortgage, there are other variables involved -- not just mortgage credit score. You said you got a couple of deletes removed with full payment, but are there any other derogs on your credit report? I ask this because you stated child support issues. How is your wife's credit? If both of you are applying for the loan, it will be the lowest middle score of you and your wife's mortgage scores. I agree with @me12345, it is VIP to talk to a LO who will know the answer in your specific situation, not the person who opened the account.

GL2U