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Does WHEDA have a minimum credit score requirement?

April 26, 2017Credit score minimum requirement wheda

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Does WHEDA have a minimum credit score requirement?

2 Answers

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Yes, but the score varies: 620 – If the borrower received a DU Approve/Eligible or EA-1/Eligible 660 – If the loan does not receive a DU Approve/Eligible or EA-1/Eligible and the loan is being submitted for a manual underwrite up to 97% loan to value.

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Yes, but the score varies: 620 – If the borrower received a DU Approve/Eligible or EA-1/Eligible 660 – If the loan does not receive a DU Approve/Eligible or EA-1/Eligible and the loan is being submitted for a manual underwrite up to 97% loan to value. If the loan-to-value exceeds 80% refer to the private mortgage insurance company’s requirement.