WHAT KIND OF FICO SCORE DO I NEED TO PURSHASE A HOME?

Asked by Vivian, Colton, CA Thu May 7, 2009

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Steven Ornel…, Agent, Fremont, CA
Thu May 7, 2009
Hi Vivian, Dana is correct on FHA.

Non-FHA is also 620; HOWEVER, if you do not want any added Lender fees for low credit score you need a 720. Then again, if your LTV is 60% and lower all you need is 660.

Talk with a mortgage broker to determine exactly what you FICO requirements are based on your situation.

Best, Steve
1 vote
Dana Schuster, Agent, Slidell, LA
Thu May 7, 2009
minimum 620 for an FHA loan with 3.5% down payment. all other types of financing now require a 720.
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