Posted on: 13th Jan, 2014 11:47 pm
Hi everyone... Will it be possible for a person to qualify for a USDA loan with a credit score of 615?
Well, as far as I know, USDA loans are available to borrowers at a credit score of 620. So, there are chances that you may qualify for the loan if you meet all the other criteria of the lender.
Welcome Guest,
You will have to get in touch with the local USDA lenders. They will let you know whether or not you will be able to get a loan for such low credit scores.
You will have to get in touch with the local USDA lenders. They will let you know whether or not you will be able to get a loan for such low credit scores.
USDA Guaranteed does not have a set minimum however almost every bank that I know of requires at minimum a 620 with most wanting a 640 - here is a link for some info on USDA that may be of assistance.......
Brian
http://www.rurdev.usda.gov/supportdocuments/ca-sfh-grhunderwritingguide.pdf
Brian
http://www.rurdev.usda.gov/supportdocuments/ca-sfh-grhunderwritingguide.pdf
