Wells Fargo Lowers Minimum Credit Score to 500

Minimum credit score decreasedThat’s right Wells Fargo has lowered their minimum credit score for FHA insured mortgages to 500.  Here is the low down.

 

  • 500-579- Minimum 10% down. Down payment can not be a gift or come from a down payment assistance program
  • 580-599- Minimum 5% down.  Down payment can not be a gift or come from a down payment assistance program.
  • 600+- Minimum 3.5% down.  Down payment can be a gift

For more information on this great new home buyer opportunity please contact me at 619.916.9058 so we can discuss your options.

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