Dream Big FICO Changes
The below updates are effective with new locks or applications on or after February 3, 2020.
Updated the following for owner occupied:
- Minimum FICO changed to 700 at $2M (previously 680) for purchases and rate/term refinances with 20, 25 and 30 year fixed products
- Minimum FICO changed to 740 at $2M (previously 700) for cash-out refinances with 20, 25 and 30 year fixed products
Updated the following for investment:
- Minimum FICO changed to 740 for all loan amounts (previously 720 for $2M or 700 for $1.5M)
Please reference the NewRez Product Profiles for the changes outlined in this announcement.