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Home Loan Cheat Sheet

YOUR HOME LOAN CHEAT SHEET

CONVENTIONAL

MINIMUM FICO SCORE
  • 620 min FICO or 640 with MI
  • *Contact your MI company for details
DOWN PAYMENT
  • 5% min borrower
OCCUPANCY
  • Primary residence
  • MI required if less if less than 20% down
  • 100% gift funds allowed
  • Up to 9% seller contribution

FHA

MINIMUM FICO SCORE
  • 580-620 with DTI limits 
  • 580 high balance with limits
DOWN PAYMENT
  • 3.5% min borrower
OCCUPANCY
  • Primary residence
  • UPMIP financed
  • Monthly MI required
  • 100% gift funds allowed
  • Up to 6% seller contribution

VA

MINIMUM FICO SCORE
  • 620 with DTI Limits
  • 640 high balance with limits
DOWN PAYMENT
  • No down payment required
OCCUPANCY
  • Primary residence
  • Upfront funding fee financed
  • No monthly MI required
  • 100% gift funds allowed
  • Up to 4% seller contribution

USDA

MINIMUM FICO SCORE
  • 620 with manual UW
  • 640 standard guides
DOWN PAYMENT
  • No down payment required
OCCUPANCY
  • Primary residence
  • Upfront funding fee financed
  • Annual fee required
  • Up to 6% seller contribution

HOME LOAN
CHEAT SHEETS

REALTOR®
HOME LOAN
PROCESS

CO-BRANDED
OPPORTUNITIES

BUILDERS