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What is the minimum credit score requirement?

Minimum Credit Score Requirements

The following table describes the minimum credit score requirements.

Transaction Type Minimum Credit Score
Manually underwritten mortgage loans

The requirements are published in the Eligibility Matrix and are based on the representative credit score for the loan and the highest of the LTV, CLTV, or HCLTV ratios, as applicable. The minimum representative credit score that applies to eligibility and pricing of the loan:

620 — fixed-rate loans

640 — ARMs

DU loan casefiles

The minimum credit score that applies to eligibility of the loan casefiles is:

620-fixed-rate loans and ARMs

For loan casefiles with one borrower, DU will use the representative credit score to determine whether the minimum 620 credit score requirement is met.  

For loan casefiles with more than one borrower, DU will determine whether the minimum credit score requirement is met using:

  • The representative credit score for RefiNow loans and loans that have a minimum credit score other than 620 (such as multiple financed properties); or
  • An average median credit score. See DU Credit Score requirements in B3-5.1-01, General Requirements for Credit Scores for details on how DU will calculate the average median credit score.

In instances where DU uses the average median credit score for the eligibility assessment, the representative credit score must still be provided at time of delivery.  This may result in the delivery of loans with representative credit scores less than 620. 

Mortgage loans insured or guaranteed by a federal government agency (HUD, FHA, VA, and RD) The minimum representative credit score is 620
Loans delivered pursuant to any variance contained in the Lender Contract

Manually underwritten loans: Higher of 620 representative credit score or the minimum representative credit score required by the variance

DU loan casefiles: Higher of 620 based on score used by DU or the minimum representative score required by the variance 

See B3-5.1-02, Determining the Representative Credit Score for a Mortgage Loan for additional information.

Exceptions to the Minimum Credit Score Requirement

Certain transactions are not subject to the minimum credit score requirement, including:

  • loans where no borrower has a credit score (see Section B3–5.4, Nontraditional Credit History);
  • manually underwritten HomeReady mortgage loans that include a borrower with a low credit score (see B5-6-02, HomeReady Mortgage Underwriting Methods and Requirements); and
  • high LTV refinance loans, except for those loans underwritten using the Alternative Qualification Path. 

For additional information, see B3-5.1-01, General Requirements for Credit Scores.

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