Update to Government Transactions Minimum Credit Score Requirement

Homebridge is pleased to announce we are lowering the minimum credit score requirement on all FHA, VA, and USDA transactions to 580 (currently 620).

The new minimum of 580 applies to both credit and non-credit qualifying transactions except as noted below:

Important Note for VA Program Transactions: 

  • There is no change to the current Homebridge credit score requirements for high balance 1-unit properties when the veteran has full entitlement with 100% financing
    • Minimum credit score of 700 still required for loan amounts $1,000,000 to $1,500,000
    • Minimum credit score of 680 still required for loan amounts $822,376 to $999,999

FICO Adjustors

The following FICO adjustors apply:

  • Credit score of 600-619: 200 basis points
  • Credit score of 580-599: 300 basis points

The Homebridge FHA/FHA Streamline, FHA 203(k) Standard and Limited, VA/VA IRRRL, and USDA Purchase and Non-Streamlined/ Streamlined/Streamlined Assist Refinance guidelines and all supporting materials have been updated and posted on the website at www.HomebridgeWholesale.com.

The lower minimum credit score is eligible for new submissions as of June 25, 2021

If you have any questions, please contact your Account Executive