What is the minimum credit score for a conventional loan in Lexington, KY?

A general rule of thumb in the current housing market for a credit score to get a mortgage is around 640. Keep in mind that pulling your score yourself through a website (or even another financial institution) may not give you an accurate score that your lender would pull. Even with a 600 credit score, it might actually be higher and a mortgage consultant should be able to help you raise relatively quickly. Dan MoyleAmeriFirst Home Mortgage / marketing

Conventional loans (Fannie Mae & Freddie Mac) generally require a minimum credit score of 620 but it can be difficult to get approval with scores that low unless you have a large downpayment (10% or more) and the rate and PMI cost will generally be a lot higher. Yes, you can apply in only one person's name but only that person's income can be counted in qualifying for the mortgage. FHA loans are possible with lower scores but the lower the score the more difficult the approval process, whether FHA or conventional.

While you may see people saying something lower, realistically for a conventional loan, you'll need a 660 with almost all lenders. Conventional interest rates vary greatly by score, so someone with a 660 will pay about 1/2% higher interest rate than someone with a 760 score. www.Joemetzler.com