minimum credit score: Wells Fargo Raises Minimum Credit Score to 600 for all loan programs
- 02/12/09 12:48 PM
Wells Fargo has announced that they have raised their minimum credit score requirement for ALL loan programs to a 600 FICO score across the board. This has left some pre-approved buyers no longer approved. Wells Fargo's old score was 580 minimum. FHA and VA had been 580 minimum score. I believe other lenders will follow suit. Lenders are looking to limit their risk in this current financial crisis.
If you are below a 600 credit score and would still like to qualify for a home loan, please feel free to contact me their are still lenders doing below 600 FICO score on … (2 comments)
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Wells Fargo has announced that they have raised their minimum credit score requirement for ALL loan programs to a 600 FICO score across the board. This has left some pre-approved buyers no longer approved. Wells Fargo's old score was 580 minimum. FHA and VA had been 580 minimum score. I believe other lenders will follow suit. Lenders are looking to limit their risk in this current financial crisis.
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