Loan Requirements
What is the minimum FICO?
The absolute lowest FICO accepted across all programs reviewed is 500 (FHA, JMAC Lending), subject to strict DTI and LTV caps. Minimums vary significantly by program type, lender overlay, and loan purpose — see full breakdown below.
Minimum FICO by Program Type
FHA Loans
- JMAC Lending — FHA Standard & High Balance: The lowest minimum FICO on record across all guidelines retrieved is 500, applying specifically to FHA loans. Borrowers with a FICO of 500–579 are limited to a 31/43 DTI and cannot receive compensating factor waivers. At 580+, more flexible DTI tiers become available.
- Nations Direct Mortgage — FHA Standard:
- 580 FICO — up to 96.5% LTV (purchase); 97.75% LTV (no cash-out refi)
- 550 FICO — maximum 90.0% LTV (purchase and no cash-out); 80% LTV (cash-out)
- AD Mortgage — FHA Overlay:
- 580 for all borrowers (standard)
- 620 for Manufactured Homes (purchase/rate-term); 640 for Manufactured Home cash-out
- Manual UW: 620 minimum
VA Loans
- AD Mortgage — VA Overlay:
| Loan Amount | Purpose | Min FICO |
|---|---|---|
| Up to $1,000,000 | Purchase | 580 |
| Up to $1,000,000 | Cash-Out Type I (90% LTV) | 620 |
| Up to $1,000,000 | Cash-Out Type I (100% LTV) | 680 |
| $1,000,001–$1,500,000 | Purchase or Cash-Out | 680 |
| $1,500,001–$2,000,000 | Purchase or Cash-Out | 700 |
| Any | Manual UW (Non-IRRRL) | 660 or FICO floor, whichever is greater |
Conventional Loans
- AmWest — Freddie Mac Conforming / Super Conforming / Home Possible: 620 FICO across owner-occupied, second home, and investment property for all standard conventional programs
- AmWest — Fannie Mae Conforming Classic / High Balance: 620 FICO minimum for all occupancy types and property types
- Forward Lending — Fannie Mae Conforming: 700 FICO minimum across all occupancy types and property types
- Forward Lending — Freddie Mac Home Possible (Conforming): 550 FICO — primary residence, purchase and limited cash-out only, 1–4 units at up to 97% LTV
- Agency Guideline (Fannie Mae):
- Manually underwritten loans: 620 (fixed-rate), 640 (ARM)
- Government loans (FHA, VA, RD) delivered to Fannie Mae: 620 minimum representative score
- DU loan casefiles: No minimum FICO required — DU assesses creditworthiness independently
Non-QM / Alternative Documentation Loans
- AD Mortgage — Prime: 620 minimum (standard SFR/PUD/Condo, Purchase/R&T Refi at 65% LTV)
- AD Mortgage — Super Prime: 620 minimum (standard SFR/PUD/Condo at 65% LTV)
- AD Mortgage — Second Lien (CES): 680 minimum (primary, second home, and investment)
- AD Mortgage — Jumbo: 660 minimum (Purchase/R&T up to 70% LTV); 680 (up to 80% LTV); 720 for higher LTVs
- Greenbox — Elite Plus DSCR: 660 FICO minimum
- Greenbox — CES Full Alt Doc: 640 FICO minimum
- Greenbox — ITIN Full Alt Doc: 640 FICO minimum (ITIN borrowers)
- Greenbox — 5–8 Unit DSCR: 720 FICO minimum
- New Wave Lending — A-QM DSCR Prime: 700 FICO minimum (Interest Only requires 700; reduces max LTV by 5%)
- AmWest — Asset Qualifier: 660 minimum (at lower LTV tiers); 700 at higher LTV tiers
Foreign National Loans
- AD Mortgage — Foreign National: 660 FICO minimum (or No FICO eligible at same LTV tiers)
Quick-Reference Floor Summary
| Program Type | Absolute Minimum FICO | Lender / Program |
|---|---|---|
| FHA | 500 | JMAC Lending (31/43 DTI cap, max 90% LTV) |
| FHA | 550 | Nations Direct (max 90% LTV) |
| VA | 580 | AD Mortgage (purchase, up to $1M) |
| Conventional | 550 | Forward Lending — Freddie Mac Home Possible |
| Conventional (standard) | 620 | AmWest, multiple programs |
| Non-QM / Jumbo | 620 | AD Mortgage Prime / Super Prime |
| DSCR | 660 | Greenbox Elite Plus DSCR |
| DSCR (5–8 units) | 720 | Greenbox 5–8 Unit DSCR |
Note: Some programs (e.g., AD Mortgage Prime / Foreign National) allow No FICO borrowers at reduced LTVs. Fannie Mae DU loan casefiles carry no stated minimum FICO — creditworthiness is determined by DU's risk assessment.
