Ask a group of lenders and you’ll get a minimum of 3 different answers — which is unhelpful, of course. Without “one minimum score” for every lender, a lot of home buyers are finding it difficult to plan effectively.
I'll tell you this: Just because FHA/VA allow scores to be as low as 550, the lender who is issuing the funds will not.
Try to get your scores at least to 640. Yes, you can purchase with scores between 580-620 but why pay more?
A smooth home buying process, makes for a happier experience (yes, that's totally my opinion but from over a decade of experience working with first time home owners, I believe whole-heartedly that it's true 🙂 )
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