This is a YouTube video titled "🚨 Conventional Loans, Tighter Rules 🚨" containing a discussion about recent changes in conventional loan financing requirements, specifically the increased credit score thresholds required for approval, recorded on April 15, 2022. The content features a single speaker explaining the impact of tightened regulations by Fannie Mae and Freddie Mac on loan approvals.
You used to be able to get conventional financing for 620 and above credit. However, Fannie Mae and Freddie Mac have really tightened up the regulations, and the lowest credit score we've seen get approved is 660 on a conventional loan for about the last year. Many people have to get to 680 or sometimes even 700 or above to even have an opportunity in conditional financing. And when they do, absolutely conventional offers have a better chance of getting accepted. But this has required many people in that high 600 range to actually flip into FHA as their 1 option to get an approval.
