🤔 Can You Really Get a Mortgage with No Credit Score in Virginia Beach? 🏡 Fannie Mae Says Yes (with Caveats!)
Hello Hampton Roads, What Does It Mean That Fannie Mae Removed the Minimum Credit Score Requirement from DU? If you’ve heard that Fannie Mae removed the minimum credit score requirement from Desktop Underwriter (DU) , you might be wondering: “Wait—can buyers now qualify for a mortgage with no credit score?” The short answer is yes, but with important caveats . This change doesn’t mean credit scores are irrelevant—it means DU now evaluates borrowers using a broader, more inclusive set of criteria. For many renters and first-time buyers in Virginia Beach and Hampton Roads , this could open the door to home ownership. 💡 What Is Desktop Underwriter (DU)? DU is Fannie Mae’s automated underwriting system used by lenders to assess whether a borrower qualifies for a conventional mortgage. It analyzes a borrower’s financial profile—including income, assets, debt, and credit history—and delivers a recommendation (like “Approve/Eligible” or “Refer with Caution”). DU helps lende...
