Is There a Minimum Credit Score? – – Minimum Credit Score Auto Loans: Based on their data the median credit score for auto loans is much less. Overall credit score distribution for auto loans has been much less volitale. The median score for Q4 2017 was 707, 48 points higher than that for mortgages.

VA Loans and Credit Score Minimums: What All Buyers Need to Know – Successful FHA borrowers typically have higher scores. The average credit score for all FHA purchases in 2016 was 686, which is well above the minimum 580 score. FHA loans also require a down payment of 3.5 percent, as well as both an up-front mortgage insurance premium and monthly mortgage insurance, which now runs for the life of the loan.

New credit score changes for 2019 – "Let’s say the average Joe or Jane, trying to get a car loan, they’re at 580 and the bank might require a 600 credit score or 620. that could boost up their score minimum 20 points, maybe 40, or 60.

Categories: HECM Mortgage