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What are the middle score requirements for usda and conventional,  to keep manual underwriting from occurring? What kind of reserves will each require? Without down payment added, how much will closing costs be on a 200k home? Is it possible to get into a home via usda and never pay anything? Do you offer down payment assistance in Kansas? Sorry for the wall of questions.

1 Answer

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answered by (40.3k points)
The minimum credit score requirements on conventional loans are 620 FICO. FHA requires a 580 credit score for a 3.5% down payment home purchase FHA loan. USDA loans normally require a 640 FICO. Closing costs depend on the county, area, and other factors. You can get all of your closing costs covered with the seller's concession. Most down payment assistance requires a 640 credit score.