• Vicki Ahmadi

Now Accepting Credit Scores as Low as 600

Geneva Financial is excited to announce that we are now accepting credit scores as low as 600 on a multitude of our loan programs.

Accepting Credit Scores as Low As 600

Previously FHA, USDA, and VA Loans required a minimum credit score of at least 620 or higher, We are now accepting credit scores as low as 600!

What does this mean? We can now serve an even wider range of humans finance the home of their dreams! Your dreams of homeownership may be easier to achieve than you think!

Let’s Explore Some Loan Types

FHA Loan What are the requirements of an FHA Loan?

  • FICO® score at least 600= 3.5% down payment.

  • MIP (Mortgage Insurance Premium) is required.

  • Debt-to-Income Ratio < 43%.

  • The home must be the borrower’s primary residence.

  • Borrower must have steady income and proof of employment.

Read more about FHA Home Loans HERE

USDA Loans

What are the requirements for a USDA Loan?

  • U.S. citizenship or permanent residency

  • Ability to prove creditworthiness, typically with a credit score of at least 600

  • Stable and dependable income

  • A willingness to repay the mortgage – generally 12 months of no late payments or collections

  • Adjusted household income equal to or less than 115% of the area median income

  • Property serves as the primary residence and is located in a qualified rural area

Read More About USDA Loans HERE

VA Loans

What are the requirements for a VA Loan?

  • VA loans are designed specifically for veterans. VA loans should only be issued by a VA-approved lender and are guaranteed by the federal government.

  • A Veteran must have served 181 days during peacetime, 90 days during wartime, or 6 years in the Reserves or National Guard.

  • Spouses of a service member who was killed in the line of duty may also qualify.

Read More About VA Loans HERE Curious to see what your home payment would look like?

HOME PAYMENT CALCULATOR Get in touch with YOUR loan officer today.

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