All information provided in this publication is for informational and educational purposes only, and in no way is any of the content contained herein to be construed as financial, investment, or legal advice or instruction.
Restrictions may apply, contact Guaranteed Rate for current rates and for more information. The receipt of the application does not represent an approval for financing or interest rate guarantee. Not all applicants will be approved for financing. The representative credit score will continue to be used for pricing, any applicable mortgage insurance requirements, and provided in MBS disclosures.Īpplicant subject to credit and underwriting approval. For loan casefiles with more than one borrower, DU will use an average median credit score when determining if a loan casefile meets the minimum credit score requirement of 620. Though credit scores are not an integral part of DU's risk assessment, DU currently uses credit scores to ensure compliance with the 620 minimum representative credit score requirement.
To support homeownership opportunities for more underserved borrowers, Fannie Mae is updating the credit score used by DU in the eligibility assessment. Subscribe Us for any Real State, Freddie Mac, Conventional Loans Updates
HUGE NEWS!!! Change on credit Score on CONVENTIONAL LOANS?!?!?!? What!?!?!?!?!?
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