What is the minimum credit score for a USDA loan?

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    United States Department of Agriculture (USDA) loans are meant for low to moderate-income borrowers. These loans are only given to homeowners buying property in eligible rural or suburban areas.

    USDA loans are government-insured (through the U.S. Department of Agriculture) and do not have any specific credit score requirements. Lenders decide their own credit score minimum for approving USDA loans. So, you may still be eligible for a USDA loan even with fair or bad credit.

    Most USDA mortgage loan lenders require a minimum FICO® Score of 640. But they also take into consideration other factors including income, employment status, debt-to-income ratio, and savings amount. You may need to pay a higher interest rate on a USDA loan based on your credit score and overall financial health. The terms depend entirely on the lender.

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StellarFinance, Inc. and its affiliates do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.

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