Credit Score

Answering some of our most asked questions. Didn’t answer your question? You can always email or call us. We are happy to answer!

Can I get a mortgage with low or no credit?

In today’s market, there are a lot of mortgage products out there. Many are geared toward clients that have limited to no credit to assist them in the homebuying process. Some programs will ask for alternative credit references such as payments on utilities, cell phones, rent, or other sources. Other programs may allow for non-occupant borrowers to sign on and assist with the qualification. The important thing is to talk with a loan officer to know your options.

Will pulling my credit for a mortgage hurt my credit score?

Hard credit inquiries are when a company pulls your official credit report. Numerous inquiries consistently over time or in a short window can have an impact on your credit report. Be mindful of who and how many times your credit is pulled. A credit inquiry has a minimal impact but if you have had your report pulled many times that impact will add up.

Why is my mortgage credit score different then what I see?

The different consumer credit services do not use the mortgage industry scoring model so their score will be different from what we see. These programs are a great way to get a look at and monitor your credit report though. You should look at your credit report annually at a minimum to ensure its accuracy.

Minimum FHA Credit Score?

580

Minimum USDA Credit Score?

640

Minimum Conventional Credit Score?

620

Minimum Conventional Credit Score?

620

Minimum VA Credit Score?

Between 580 and 620

Minimum Jumbo Loan Credit Score?

620 minimum-with Jumbo loans the higher the score the more and better options you will see available.

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