Mortgage Navigator • Conventional • Credit

Does conventional still require a 620 credit score? Not for an AUS-approved agency loan.

The old shorthand that conventional loans always require a 620 score is no longer accurate for loans receiving an eligible agency AUS approval.

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Fannie Mae — Desktop Underwriter

For DU loan casefiles, Fannie Mae states that a minimum credit score is not required. DU evaluates the borrower's creditworthiness using its proprietary credit-risk assessment and the risk factors in the Selling Guide.

Freddie Mac — Loan Product Advisor

For LPA mortgages receiving an Accept Risk Class, Freddie Mac states that a minimum Indicator Score is not required because LPA has determined the borrower and mortgage product are acceptable.

Agency Difference: the practical concept is now very similar for automated underwriting—no blanket agency minimum score for DU-approved or LPA-Accept mortgages. But the systems evaluate risk differently, so one can still approve a file that the other does not.

LTV does not bring back a universal 620 floor

For an eligible AUS-approved conventional file, higher LTV by itself does not recreate the old universal 620 agency minimum. The AUS evaluates the total risk profile, including credit history, LTV, reserves, debt ratio, property, loan purpose and other factors.

Where credit score still matters

Credit score can still materially affect pricing, mortgage insurance, LLPAs/credit fees, product eligibility and lender overlays. And manually underwritten loans still have explicit agency minimum-score rules. “No agency minimum for AUS approval” does not mean score is irrelevant.

Borrower takeaway: don't self-disqualify because your score is below 620. The correct question is whether an eligible conventional file receives the required AUS recommendation and satisfies every other agency, MI and lender requirement.
Could the other agency solve this? Fannie Mae and Freddie Mac are not identical. If this scenario fails under one agency, compare the other agency's current rule and AUS result before assuming conventional financing is unavailable. A lender overlay is also different from an agency prohibition.

Official sources

Fannie Mae Selling Guide · Freddie Mac Seller/Servicer Guide · FHFA Conforming Loan Limits

Agency guides control over summaries. Lender and mortgage-insurer overlays can be more restrictive.