QUESTION: I have had a few credit bumps in the past. Can you please tell me what the current credit score requirement is with USDA home loans?
S.Dison / Tampa, FL
In general, the current requirement is a 620 credit score. However, any credit score over a 620 does not guarantee USDA financing. USDA /Rural Development will look at other factors like payment history (especially in the last year) and derogatory accounts as well. You can generally find a reputable credit specialist to assist with improving your credit score if you have credit scores below a 620. There are plenty of great resources online as well like www.myfico.com
USDA Mortgage Source is Florida leading resource for all 100% USDA home loans. Please visit our web site at www.UsdaMortgageSource.com to learn more about the benefits of 100% USDA home financing here in Florida.