What credit score do I need for a conventional loan?
There is no single credit-score cutoff for every conventional loan. Fannie Mae’s automated review, called DU, has no minimum score rule. A lender or mortgage insurer may still set a minimum. Your credit can also affect your costs.
What this actually means.
DU reviews the full loan file, including credit history, income, debts, and assets. Fannie Mae’s manually underwritten loans have different score rules: generally 620 for fixed-rate loans and 640 for adjustable-rate loans, subject to program rules and exceptions. A lender or mortgage insurer may require more. A score alone does not promise approval or a certain price. Compare written offers for the same home, down payment, and loan terms.
What this looks like on a real file.
Where this can move.
Recent late payments, thin credit history, disputed accounts, lender overlays, and AUS findings can change the answer.
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More conventional questions on Credit.
Educational only. Conventional loan guidelines, lender overlays, rates, fees, PMI, LLPAs, and underwriting requirements can change. Final eligibility depends on full underwriting review. Mortgage Expert, Inc. is not affiliated with Fannie Mae, Freddie Mac, FHFA, or any government agency.