USDA Rural Home Loans – Credit Score Requirements
There is no written minimum credit score requirement to qualify for a USDA Rural Home Loan. However, many investors who fund the USDA Rural Home Loans have a minimum requirement of 620 middle credit score. This simply means that the USDA Rural Home Loan allows for a little variance in the credit score to qualify.
Apply for a USDA Loan Online Now: Loan Application
The USDA Rural Home Loan will require that any borrower with less than a 620 middle credit score undergo a stringent credit screening. USDA Rural Home Loans will look at the most recent 12 months of rental history and with a lower credit score the USDA Rural Home Loan will definitely require you to write some detail credit letters of explanation.
The good news is that a credit score of 620 or higher may allow you to get away with some pretty significant credit dings.
- What Credit Score Does The USDA Loan Require?
- 3 Things The Lender Looks At When You Apply For A USDA Rural Development Home Loan
- Simple Tips To Optimize Your Credit Score For The USDA Loan
- USDA Rural Home Loan Advantages Over FHA Or Conventional Financing
- How To Get A USDA Loan If You Don’t Have Any Credit