Gustan Cho Associates's video: Credit Scores Required For FHA And VA Loans By Homebuyers

Credit Scores Required For FHA And VA Loans By Homebuyers * CHECK IF YOU QUALIFY: www.gustancho.com/fast-quote * You want to know more, contact The Gustan Cho Team at 262-716-8151 or send a text message for a faster response. Or write to us at gcho@loancabin.com. We are available 7 days a week, in the evening, on weekends and holidays. ***** Follow me ***** on Social Media 1) Facebook - https://www.facebook.com/TheGustanChoTeam/ 2) Facebook - https://www.facebook.com/alexcarlucciMortgage/ 3) Official Website - https://gustancho.com Be sure to subscribe for more: https://www.youtube.com/c/GustanChoAssociates ALEX CARLUCCI - SVP Mortgage Banker, NMLS # 229891 ALEX STATE LICENSES: - Alabama - Colorado - 100511536 - Florida - LO40799 - Illinois - 031.0026265 - Indiana - 38913 - Michigan - 229891 - Mississippi - Pennsylvania - 72654 - Tennessee - 200345 COMPANY ALL-STATE LICENSES: - Alabama, California, Colorado, Florida, Georgia, Illinois, Indiana, Michigan, New Jersey, Pennsylvania, Tennessee, Texas , Ohio 1. An agency credit score is required for FHA and VA loans * All loan programs. except VA loans have minimum credit rating requirements for the agency. - Agency minimum creditworthiness for FHA loans for 3.5% advance home purchase FHA loan is 580 FICO - Borrowers with less than 580 FICO to 500 credit ratings may be eligible for FHA loans with 10% down payment - However, lenders can impose their own credit rating requirement which is higher, called lender overlays - Lender overlays are loan requirements imposed by the lender that go beyond the minimum guidelines of a mortgage agency - VA has no minimum creditworthiness requirement As the US Department of Veterans Affairs explains, there are no minimum creditworthiness requirements for VA loans - It is up to the lender to require a minimum creditworthiness - Only borrowers who have served in a U.S. Armed Forces branch and held a valid Certificate of Eligibility are eligible for VA loans - To find out if you qualify, you can apply at ebenefits.va.gov or call 877-827-3702 for more information * The great news is that the GCA Mortgage Group has no lender limits for government and conventional loans. Read more https://gustancho.com/credit-scores-required-for-fha-and-va-loans 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. Loan Cabin, Inc. and GCA does not guarantee the quality, accuracy, completeness, or timeliness of the information in this publication. While efforts are made to verify the information provided, the information should not be assumed to be error-free. Some information in the publication may have been provided by third parties and has not necessarily been verified by Loan Cabin, Inc.. its affiliates and subsidiaries do not assume any liability for the information contained herein, be it direct, indirect, consequential, special, or exemplary, or other damages whatsoever and howsoever caused, arising out of or in connection with the use of this publication or in reliance on the information, including any personal or pecuniary loss, whether the action is in contract, tort (including negligence) or other tortious action. Copyright © 2021 - Gustan Cho Associates NMLS 873293, DBA of Loan Cabin Inc. NMLS 165732 Address: 1910 S Highland Ave, Suite 300 Lombard, IL 60148