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Conventional Loan Requirements - Min Credit Score?

What is the minimum credit score required to qualify for a conventional loan? Does the min credit score change depending upon the amount of money used for down payment?

Thank you

eric1's picture
eric1 | Joined: January 4, 2009 03:52 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

It really depends upon the lender. Sometimes the score requirements change depending upon the down payment but also there are some lenders who do not have minimum score requirements.

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 03:06 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I have a median credit score of 680. I have the money to do both 10% and 20% conventional loan if needed. I was just declined on a 5% connventional loan because of the 680 credit score. I was told I needed a 720. With 10% down I am having difficulty getting a lender. Do all conventional loans require a 720 median credit score? I need to close my deal.

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 03:06 | Post subject:

adonis's picture
adonis | Joined: October 22, 2005 05:04 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Welcome Kenney,

Your query has been replied to in the given page:
http://www.mortgagefit.com/inprocess/about49239.html#201374

Take a look at it. I hope it will help you.

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 03:06 | Post subject:

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