No Minimum Credit Score Required
With most lenders requiring a Minimum Credit Score of at least 620 or above on FHA, Conv and VA loans most borrowers are finding it difficult to find financing if they score below 620.
Not everyone who scores low on fico scores should not disqualifiy based on low scores alone. If you show a good track record in paying bills on time and can prove that you are credit worthy regardless of credit score you should be approved.
Even though FHA & VA still follow these guidelines, most lenders are capping the credit scores to 620+ to be approved.
There is one program out there that still holds a TRUE NO MINIMUM FICO SCORE regardless of what the lender will approve.
THE VHDA program will honor the no minimum fico score in the following conditions.
- 31/43 Debt-to-income ratios
- No late payments in the last 12 months over 30 days.
That’s it! Simple as that, a True no minimum fico score requirement!
Enjoy the 103% Financing!