Home Loan
Cheat Sheet

YOUR HOME LOAN CHEAT SHEET

CONVENTIONAL

MINIMUM FICO SCORE
  • 620 min FICO or 640 with MI
  • *Contact your MI company for details
DOWN PAYMENT
  • 5% min borrower
OCCUPANCY
  • Primary residence
  • MI required if less if less than 20% down
  • 100% gift funds allowed
  • Up to 9% seller contribution

FHA

MINIMUM FICO SCORE
  • 580-620 with DTI limits 
  • 580 high balance with limits
DOWN PAYMENT
  • 3.5% min borrower
OCCUPANCY
  • Primary residence
  • UPMIP financed
  • Monthly MI required
  • 100% gift funds allowed
  • Up to 6% seller contribution

VA

MINIMUM FICO SCORE
  • 620 with DTI Limits
  • 640 high balance with limits
DOWN PAYMENT
  • No down payment required
OCCUPANCY
  • Primary residence
  • Upfront funding fee financed
  • No monthly MI required
  • 100% gift funds allowed
  • Up to 4% seller contribution

USDA

MINIMUM FICO SCORE
  • 620 with manual UW
  • 640 standard guides
DOWN PAYMENT
  • No down payment required
OCCUPANCY
  • Primary residence
  • Upfront funding fee financed
  • Annual fee required
  • Up to 6% seller contribution
*This communication is for informational purposes only, this is not a commitment to lend. Individual buyer's financial circumstances may be different and may result in different interest rates, costs, and payments.  All programs are subject to change or cancelation at any time and without notice. Please consult your licensed Loan Originator to learn more about mortgage products, your eligibility, and ask for an official Loan Estimate before choosing your loan.

HOME LOAN
CHEAT SHEETS

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