Fannie Mae Announces a “Blended Credit Score” to help more borrowers qualify for home financing. Here is how it works. When one borrower does not meet the minimum credit score requirement of 620, the scores of both of the borrowers will be averaged to meet the minimum requirement. If your loan was previously denied over this issue or you have questions, let’s talk!
Related Article Title: Fannie Mae Issues Fact Sheet and FAQs for Blended FICO Scores – Dated September 22, 2021 Written by: Lloyd Rutherford, Staff Writer The new “Blended” credit score offered by Fannie Mae has ignited many questions in the industry. Read through this update which provides important references for these changes. Rule Synopsis: Fannie […]