Rocket Mortgage Credit Requirements
Nontraditional mortgage loans are usually characterized by the following traits. And credit score is over 720 or in the case of certain Jumbo products we assume a credit score over 740. Rocket Mortgage Review Full Approval In Just 8 Minutes The Truth About Mortgage Rocket Mortgage requires a minimum credit score of 580 for FHA loans. Rocket mortgage credit requirements . Debt-to-income ratio is less than 30. USDA Loan Requirements USDA loans are only for homes in eligible rural areas as determined by the US. They typically have a nonstandard amortization schedule. Rocket Mortgage requires a minimum 620 credit score to proceed with a VA IRRRL. Rocket Mortgage allows credit scores starting at 580 for FHA loans. The credit requirement for VA loans depends on your lender. What is the minimum credit score. There is no minimum FICO Score though to qualify for an FHA loan that requires a down payment of 10 or more. Other loan types have higher credit score requirements.