Conventional

Credit Requirements

Fannie Mae | Freddie Mac Credit Basis

Tradeline Requirements
– Minimum of three tradelines that have been evaluated at least twelve (12) months

Minimum Credit Score

Loan Type

Occupancy

# Of Properties Financed

Minimum Credit Score

Purchase | Refinance

Primary Residence

0-6

620

Purchase | Refinance

Second Home

0-6

620

Purchase | Refinance

Investment Property

0-6

620

Purchase | Refinance

Primary Residence

7-10

720

Purchase | Refinance

Second Home

7-10

720

Purchase | Refinance

Investment Property

7-10

720

Derogatory Credit Seasoning

Derogatory Event

Discharge/Dismissal

Bankruptcy — Chapter 7 or 13

7 years

Foreclosure, Deed-in-Lieu of Foreclosure

7 years

Loan Modification

7 years

Pre-foreclosure/Short Sale

7 years

Charge-Off of Mortgage Account

7 years