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Stock impact report

The Credit Score You Need for a 0% Down Payment Loan [Yahoo! Finance]

Fair Isaac Corproation (FICO) 
Last fair isaac corproation earnings: 4/29 04:15 pm Check Earnings Report
US:NYSE Investor Relations: fico.com/en/investor-relations
Company Research Source: Yahoo! Finance
"Zero down loans exist because the down payment is often the biggest barrier to homeownership, not the monthly payment," Steven Parangi , loan expert with Alpine Mortgage Services, tells Realtor.com®. "When structured properly, these loans can be a stepping stone allowing borrowers to build equity, strengthen credit, and move into more traditional financing options down the road." VA and USDA loans are government-backed programs with specific qualification criteria. However, credit scores still play a role because the government does not fund the loans—private lenders do, and they are the ones who assess your finances. A USDA loan does not have a minimum credit score set by the federal agency, but lenders may require a score of at least 580 to 620. These loans are insured by the USDA and are meant for low- and moderate-income homebuyers who want to buy a home in a rural area. The U.S. Department of Veterans Affairs has no minimum credit score either, but lenders who provide VA Show less Read more
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