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Mortgage score rules depend on the loan path
A credit score is one part of a lender’s decision, not a stand-alone approval test. The same borrower may face different rules depending on whether the loan is FHA, VA, or conventional, how it is underwritten, and whether the lender sets requirements beyond the program’s rules.
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| Loan path | Published score guidance | What it means |
|---|---|---|
| FHA | HUD’s FHA Single Family Housing Policy Handbook, last revised August 13, 2025, says a minimum decision score of 580 permits maximum financing. Scores from 500 through 579 are limited to a maximum 90% loan-to-value ratio. | A lower score can mean a larger required down payment. Other FHA and lender requirements still apply. |
| VA | The VA eligibility page reviewed for this article requires “satisfactory credit” but states no numeric minimum score. | No published number on that page is not a promise that every score will be accepted. VA eligibility and a lender’s underwriting decision are separate questions. |
| Fannie Mae conventional, Desktop Underwriter (DU) | Fannie Mae’s Selling Guide dated April 22, 2026, says DU casefiles do not require a minimum third-party credit score. DU assesses creditworthiness as part of its risk evaluation. | This is specific to the DU underwriting path; it does not mean every conventional lender or application has no score requirement. |
| Fannie Mae conventional, manual underwriting | The same Selling Guide lists 620 for fixed-rate loans and 640 for adjustable-rate mortgages, subject to the applicable eligibility matrix, loan features, and exceptions. | These figures apply to the stated manual-underwriting rules, not to all conventional mortgages. |
Does FHA have a minimum credit score?
HUD’s published FHA policy sets different financing limits by minimum decision score. A score of 580 or higher permits maximum financing under the score rule. A score from 500 to 579 is limited to 90% loan-to-value, which generally means at least 10% down before other program rules and costs are considered. HUD’s April 2026 FHA Single Family Origination Trends Report restates the policy, including that scores as low as 500 may be permitted when the borrower has an equity position of at least 10%.
The Consumer Financial Protection Bureau (CFPB) says FHA loans may allow down payments as low as 3.5% and require mortgage insurance. FHA loans are made by private lenders, not directly by HUD. A borrower who meets an FHA score threshold still has to qualify under the rest of the program and the lender’s underwriting requirements; lenders may apply stricter standards.
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Can you get a VA loan with a low credit score?
The VA eligibility guidance reviewed here requires satisfactory credit, sufficient income, and a valid Certificate of Eligibility (COE), but it publishes no numeric credit-score cutoff. That does not establish that a low score will be accepted by a particular lender. Ask the lender what credit requirements it applies to VA loans and whether it has a stricter overlay.
Do conventional loans require a 620 score?
Not as a universal rule. Fannie Mae’s guidance separates automated DU casefiles from manually underwritten loans. DU casefiles created on or after November 16, 2025, no longer have Fannie Mae’s former minimum-score requirement; DU evaluates creditworthiness through its risk assessment. Fannie Mae’s manual-underwriting guide lists 620 for fixed-rate loans and 640 for adjustable-rate mortgages, with eligibility conditions and exceptions.
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- CONFIDENTLY AND EASILY SOLVES: All your clients' financial questions whether they are buyers, sellers, investors or renters. Increase your perceived professionalism as a new agent, experienced broker or seasoned loan officer. Close more home sales and impress your clients with fast, accurate answers to all their real estate finance questions
- DEDICATED BUYER QUALIFYING KEYS: Enter client's income, debt and expenses to pre-qualify them to only show properties they can afford. Include tax, insurance and mortgage insurance then compare loan options and payment solutions to give your client choices before they make an offer to buy
- FIGURE OUT THE RIGHT LOAN: At the press of a button for jumbo, conventional, FHA/VA, or even 80:10:10 or 80:15:5 combo loans; check to see if ARMs or bi-weekly loans, quarterly payments or if interest-only payments are the answer; giving your client more choices; easily perform what if loan or tvm calculations Find loan amount, term, interest or PITI or PI payments
- BECOME AN INVALUABLE RESOURCE: Reduce your clients' confusion and uncertainty; ensuring they are able to make a purchase offer; knowing they can afford the down payment; and determining which is the right loan for them. Date-math for listings and contracts too. Comes with a protective slide cover, quick reference guide, pocket User's Guide, and long-life batteries
Those Fannie Mae rules do not establish a single score threshold for every conventional product or lender. Lenders can impose stricter requirements, and the credit-scoring models available for use are still evolving. Fannie Mae says VantageScore 4.0 is eligible for approved lenders in specified circumstances and that FICO Score 10T implementation is in progress. Ask the lender which score model and underwriting path apply to your application rather than assuming all lenders use the same model or rules.
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How does your score affect your options and rate?
The CFPB describes broad patterns, not approval cutoffs or promised pricing: borrowers with scores in the mid-to-high 700s or above generally receive the lowest rates; borrowers in the 680–740 range typically pay somewhat higher rates; those in the 620–680 range generally have fewer choices and may face the most difficulty; and scores below 620 generally make qualifying more difficult. The CFPB also cautions that there are no hard-and-fast rules about how a score affects a particular mortgage rate. A lender’s quote depends on the full application and loan terms.
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What to ask lenders before choosing a loan
Compare written offers rather than relying on a single score threshold or a headline rate. The CFPB recommends shopping across loan programs and comparing offers. Ask each lender:
- Which programs did you consider for me: conventional, FHA, VA, USDA, or state housing-finance options?
- What underwriting route applies—automated or manual—and what score model and requirements does it use?
- Does your company apply a stricter score requirement, or other overlay, beyond the program’s rules?
- What down payment and mortgage insurance would apply to each option?
- How do the interest rate, fees, mortgage insurance, and other costs compare on the complete Loan Estimate?
A Loan Estimate lets you compare the costs and terms of offers on a written, consistent basis. Consider the whole offer, not just whether one lender says your score clears a cutoff.
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- SPEAKS YOUR LANGUAGE: Keys clearly labeled in residential mortgage finance terms like Loan Amt, Int, Term, Pmt; this industry-standard calculator is super easy to use on all realty financing matters from finding a loan that works for your client to considering trust deeds investments, or finding remaining balances or balloon payments and more
- CONFIDENTLY AND EASILY SOLVE: Clients' financial questions whether they're buyers, sellers, investors or renters. Increase your perceived professionalism as a new agent, experienced broker or seasoned loan officer. Close more home sales and impress your clients with fast, accurate answers to all their real estate finance questions from PITI Payments to IRR, NPV and Cashflows
- DEDICATED BUYER QUALIFYING KEYS: Enter client's income, debt and expenses to pre-qualify them to only show properties they can afford. Include tax, insurance and mortgage insurance then compare loan options and payment solutions to give your client choices before they make an offer to buy
- FIGURE OUT THE RIGHT LOAN: For your client at the press of a button for jumbo, conventional, FHA/VA, or even 80:10:10 or 80:15:5 combo loans; check to see if ARMs or bi-weekly loans, quarterly payments or if interest-only payments are the answer; giving your client more choices; easily perform what if loan or TVM calculations find loan amount, term, interest or PITI or PI payments
- BECOME AN INVALUABLE RESOURCE: To your clients by reducing their confusion and uncertainty; ensuring they are able to make a purchase offer; knowing they can afford the down payment; and determining which is the right loan for them. Date-math for listings and contracts too. Comes with a protective slide cover, quick reference guide, pocket user's guide, and long-life battery
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