Big News for Homebuyers: Conventional Mortgages Now Available with No Minimum Credit Score

Until recently, a 620 credit score was the minimum requirement for a conventional mortgage. That’s no longer the case. Now, borrowers with lower—or even no—credit scores may qualify for conventional financing.

🏢 Why This Matters for Condo Buyers
Most condos in the U.S. are not FHA approved. That used to limit options for buyers with lower credit scores. With this change, conventional loans are now an option for many more properties.

💸 Say Goodbye to Mandatory Mortgage Insurance
• FHA loans require mortgage insurance no matter what.
• Conventional loans don’t require it if you have 20% equity or an 80% loan-to-value ratio.
• That means lower monthly payments and more money in your pocket.

🌍 Expanded Access for Non-U.S. Citizens
• FHA loans are limited to U.S. citizens and permanent residents.
• Conventional loans allow qualified non-permanent residents with:
• Valid Visas
• Employment Authorization Documents (EADs)

✅ Who Benefits Most?
• First-time buyers with limited credit history
• Condo buyers shut out by FHA restrictions
• Immigrants and international professionals
• Anyone looking to avoid mortgage insurance

✅ We close loans others can’t.

📍 Licensed States

California, Florida, Georgia, Illinois, North Carolina, South Carolina, Tennessee

📞 Contact Us

• Call/Text: 224-420-9990

• Email: bbutler@barclaybutlerfinancial.com

• Contact: Barclay Butler

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