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What is the minimum credit score requirement?

Minimum Credit Score Requirements

The following table describes the minimum credit score requirements and how to determine the loan-level credit score that applies to loan eligibility.

Transaction Type Minimum Credit Score
Manually underwritten loans

The requirements are published in the Eligibility Matrix and are based on the credit score for the loan and the highest of the LTV, CLTV, or HCLTV ratios (as applicable); loan purpose; number of units; amortization type; and DTI ratio. To determine the credit score that applies for loan eligibility, use the following:

  • Loans with one borrower - representative credit score,    
  • Loans with more than one borrower - average median credit score.

The minimum credit score that applies for loan eligibility is:

620 — fixed-rate loans

640 — ARMs

DU loan casefiles DU will determine whether the minimum credit score is met using the following:
  • Loan casefiles with one borrower - representative credit score,  
  • Loan casefiles with more than one borrower 
    • the representative score for RefiNow loans and loans that require a minimum credit score other than 620 (such as loans with multiple financed properties); or
    • average median credit score. 

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

620 — fixed-rate loans and ARMs

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 average median credit score, as applicable, or the minimum representative credit score required by the variance.

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

See B3-5.1-02, Determining the 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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