Why Your Credit Score Matters for Kentucky Mortgage Loans
Your credit score determines not only your eligibility but also the terms of your mortgage. For example:
FHA Loans: Require a minimum credit score of 580 (or 500 with a higher down payment).
USDA Loans: Typically require a score of 640 or higher.
VA Loans: No official minimum, but most lenders prefer a score of 620 or more.
Fannie Mae Loans: Generally require a score of at least 620.
KHC Loans: Require varying credit scores depending on the program, but improving your score always strengthens your application.
