Anonymous asked in Business & FinanceRenting & Real Estate · 1 decade ago

what is the minimum credit score for a FHA loan or a VA home loan ?

in other words what is the lowest credit score you can have to buy a home ?

3 Answers

  • 1 decade ago
    Best Answer

    There is no hard and fast rule. I have seen 600 scores have to jump through hoops, and I have seen 500 get approved with a good explanation letter.

    High 500's should do it as long as there are no outstanding collections and chargeoffs etc. Even then they approve you if you clean them up.

    I've never seen anything below 500 get approved.

    Source(s): real estate broker loan officer
  • 1 decade ago

    I can tell you that for FHA, your probably looking at 580 but word on the street is that this is going to rise shortly. Remember, the credit score isn't the only item they will look at. If your credit is spotty, hopefully a letter of explaination will help you through it. FHA can take time so if that's the route your looking to go, apply quickly. I don't know much about VA, sorry

    Source(s): 7 years mortgage experience
  • 1 decade ago


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