Key takeaway620 clears essentially every lender’s VA overlay, full market access, best VA rate shopping.
What concretely changes at 620
- 620 clears essentially every lender’s VA overlay, full market access, best VA rate shopping.
- VA’s advantages compound here: 0% down + no monthly MI + score-blind funding fee is a combination no other program touches.
- Jumbo VA (over conforming limits) becomes realistic, high-cost markets open up with 0–5% down structures.
- The remaining work is entitlement math (full vs. partial) and residual income, not score.
Requirements at this band
| Lender overlays | Essentially cleared |
|---|---|
| Down payment | 0% up to conforming; partial down above |
| Funding fee | 2.15% first use / 3.3% subsequent (0% down) |
| MI | None, ever |
Figures are typical market ranges as of October 2026. Actual terms depend on the lender, your credit, the property and the program, and are confirmed on your Loan Estimate or term sheet.
Smart moves at 620
- At 620, VA beats FHA and conventional for eligible borrowers in almost every scenario, verify, don’t assume.
- Check entitlement before house-hunting: full vs. partial changes high-cost math.
- Disability rating of 10%+ exempts the funding fee entirely.
FAQ
Is VA always better than FHA at 620?
For eligible veterans: almost always, no monthly MI and no 1.75% upfront MIP. FHA only wins in rare entitlement or property-type edge cases.
Can I have two VA loans at once?
Yes, with sufficient remaining entitlement, common for PCS moves turned rentals.
Does 620 get me VA jumbo?
Lenders offer VA loans above conforming limits; down payment rules depend on entitlement. At 620 you clear the credit bar for these programs.