What credit score do I need for a mortgage in staten island ny

What credit score do I need for a mortgage?
This all depends on the loan program you apply for.

On conventioanl loans, loans where you are proving your income, the minimum score is 620.

If you apply for an FHA loan the minimum score is 550.

If you apply for a VA loan, your score can be as low as 500.

The lender will look at the middle of the three scores. For those that only have 2 credit scores they will go by the lowest one.

It is important to also note that the cause for any issues on your report are important. For example on the conventional loans they do not want any late payments collect or charge offs in the past 12 months. FHA and VA will allow for some charge offs and collection accounts.

To get accurate information for your particular sitation, call us at 718-759-1035 or click here to email us.

Click here to see todays mortgage rates.

For those that cannot prove their income click here we have a loan program for your.

To see how much you qualify for, use our qualifier calculater we built by clicking here.

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