Wells Fargo Raises Minimum Credit Score to 600 for all loan programs

By
Mortgage and Lending with Primary Residential Mortgage Inc. NMLS 38783

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 FHA and VA loans

John Thomas - Certified Mortgage Planner - Primary Residential Mortgage

Phone - 302-368-7132   E-mail - DelawareMortgages@yahoo.com

www.DelawareMortgageLoans.net

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Rainmaker
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Allison Stewart
St.Cloud Homes - Saint Cloud, FL
St. Cloud Fl Realtor, Osceola County Real Estate 407-616-9904

JOHN what is the current acceptable FICO score for VA now?

Sep 12, 2009 12:19 AM #1
Anonymous
julia roberts

I was told that i needed a 600 to qualify for mishda loan what all has to be paid besides hospital and dr.bills? And can you tell me what id qualify for if my score is 600 and i dont have any open credit that i dont want or need?Can anyone help?

Jan 20, 2012 03:36 PM #2
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Rainmaker
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John Thomas

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