This is a YouTube video titled "🚨 Minimum Credit Scores 🚨" containing a single-speaker explanation about mortgage credit score requirements for different loan types in the U.S., including conventional, FHA, VA, and USDA loans. The content was created on January 26, 2022, and provides detailed financial information relevant to homebuyers.
About 80% of mortgages across the country are conventional financing. And since COVID happened, Fannie Mae and Freddie Mac, which write the rules for conventional loans, have tightened up their minimum credit requirements about a 660 or 680 credit score. It's a little bit case by case. About 10% of home loans across the country are FHA. These minimum credit scores could go down to 580 or better. The other 10% are VA. These are also 580 or better. And then USDA, which makes up under about 1% of home loans. That is a 640 minimum credit requirement for the 0 down USDA option.
