| Conventional Mortgage |
FHA Loan |
VA Loan |
USDA Loan |
|
|---|---|---|---|---|
| Minimum FICO Credit Score |
620 | 620 | 620 | 620 |
| Minimum Down Payment |
3% - 5% | 3.5% | 0% | 0% |
| Maximum Loan To Value |
97%* | 96.5%* | 100%* | 100%* |
| Maximum Debt To Income |
45%* Exceptions to 50% |
50%* Exceptions to 55% |
41%* Exceptions to 50% |
41%* Exceptions to 45% |
| Mortgage Insurance |
Yes | Yes | No | Yes |
| Years Since Bankruptcy |
4 | 2 | 2 | 3 |
| Years Since Foreclosure |
7 | 3 | 2 | 3 |
| Years Since Short Sale |
4 | 3 | 2 | 3 |
| Special Qualification Requirements |
None | None | Must be U.S. Veteran | USDA "Rural" Property Only |
| Conventional Mortgage | |
| Minimum FICO Credit Score: |
620 |
| Minimum Down Payment: |
3% - 5% |
| Maximum Loan To Value: |
97%* |
| Maximum Debt To Income: |
45%* Exceptions to 50% |
| Mortgage Insurance: |
Yes |
| Years Since Bankruptcy: |
4 |
| Years Since Foreclosure: |
7 |
| Years Since Short Sale: |
4 |
| Special Qualification Requirements: |
None |
| FHA Loan | |
| Minimum FICO Credit Score: |
620 |
| Minimum Down Payment: |
3.5% |
| Maximum Loan To Value: |
96.5%* |
| Maximum Debt To Income: |
50%* Exceptions to 55% |
| Mortgage Insurance: |
Yes |
| Years Since Bankruptcy: |
2 |
| Years Since Foreclosure: |
3 |
| Years Since Short Sale: |
3 |
| Special Qualification Requirements: |
None |
| VA Loan | |
| Minimum FICO Credit Score: |
620 |
| Minimum Down Payment: |
0% |
| Maximum Loan To Value: |
100%* |
| Maximum Debt To Income: |
41%* Exceptions to 50% |
| Mortgage Insurance: |
No |
| Years Since Bankruptcy: |
2 |
| Years Since Foreclosure: |
2 |
| Years Since Short Sale: |
2 |
| Special Qualification Requirements: |
Must be U.S. Veteran |
| USDA Loan | |
| Minimum FICO Credit Score: |
620 |
| Minimum Down Payment: |
0% |
| Maximum Loan To Value: |
100%* |
| Maximum Debt To Income: |
41%* Exceptions to 45% |
| Mortgage Insurance: |
Yes |
| Years Since Bankruptcy: |
3 |
| Years Since Foreclosure: |
3 |
| Years Since Short Sale: |
3 |
| Special Qualification Requirements: |
USDA "Rural" Property Only |
| Jumbo Loan | |
| Minimum FICO Credit Score: |
|
| Minimum Down Payment: |
|
| Maximum Loan To Value: |
|
| Maximum Debt To Income: |
|
| Mortgage Insurance: |
|
| Years Since Bankruptcy: |
|
| Years Since Foreclosure: |
|
| Years Since Short Sale: |
|
| Special Qualification Requirements: |
|
* General guidelines listed in this loan comparison chart are subject to exception based on your individual financial history and status. Speak with a licensed mortgage consultant about your qualification for a mortgage loan. Loan programs, rates, terms, and conditions are subject to change without notice. Terms and conditions apply. All loans are subject to federal underwriting guidelines.
