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Announcement 2020-004: Dream Big Updates

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.