There is no single credit score requirement for every investment property mortgage.
For conventional financing, Fannie Mae and Freddie Mac use automated underwriting to evaluate credit along with your down payment, debts, reserves and other factors.
Non-QM programs such as DSCR and bank statement loans set their own credit requirements.
That means your score matters, but it is only one part of the broader investment property qualification process.
Investment Property Credit Score Basics
| Loan Type |
Credit Score Requirement |
What to Know |
| Fannie Mae conventional |
No single universal minimum for an eligible loan approved through Desktop Underwriter |
DU evaluates the overall risk of the loan, and lenders can apply additional requirements |
| Freddie Mac conventional |
Loan must meet applicable Loan Product Advisor requirements |
Credit is evaluated with the rest of the file rather than as a stand-alone approval factor |
| DSCR |
Varies by lender and investor |
Credit can affect maximum LTV, pricing and other program terms |
| Bank statement |
Varies by lender and investor |
Credit is considered alongside the borrower's qualifying income and assets |
| Asset qualifier |
Varies by lender and investor |
Available assets do not eliminate the lender's credit review |
A commonly repeated rule is that you need a 620 credit score for a conventional investment property.
That is too broad under current Fannie Mae automated underwriting rules.
Investment-property loans delivered to Fannie Mae generally have to receive an Approve/Eligible recommendation through Desktop Underwriter.
The lender can still impose its own minimum credit score or other restrictions.
How Conventional Investment Property Credit Requirements Work
Conventional investment property loans are generally evaluated through an automated underwriting system.
For Fannie Mae, that system is Desktop Underwriter. Freddie Mac uses Loan Product Advisor.
The systems evaluate multiple risk factors together rather than making the decision based on one credit score.
A file with a higher LTV, limited reserves and substantial monthly debt can produce a different result from a lower-LTV file with significant assets, even when the borrowers have similar credit scores.
This is why conventional investment property financing should not be reduced to a single score cutoff.
Individual lenders can also be more restrictive than Fannie Mae or Freddie Mac.
A lender overlay can set an internal minimum score or require a larger down payment for a borrower with a weaker credit profile.
Credit Score and Down Payment Work Together
The amount you put down changes the risk of the loan.
Current Fannie Mae and Freddie Mac rules permit up to 85% LTV on a 1-unit conventional investment-property purchase. That is equivalent to 15% down.
But qualifying for the maximum LTV does not mean 15% down is the best structure for every borrower.
Consider a $400,000 1-unit rental.
| Down Payment |
Loan Amount |
LTV |
| 15% |
$340,000 |
85% |
| 20% |
$320,000 |
80% |
| 25% |
$300,000 |
75% |
A borrower with weaker credit may find that putting more down produces better pricing or makes the overall file easier to approve.
A borrower with stronger credit may have more flexibility to use a higher LTV if the rest of the file supports it.
The relationship between down payment and investment-property financing therefore matters almost as much as the credit score by itself.
Why Credit Can Matter More for Pricing Than Approval
A credit score can affect the cost of a conventional mortgage even when the loan receives an automated underwriting approval.
Fannie Mae uses loan-level price adjustments, or LLPAs, when pricing many conventional loans.
Credit score and LTV are among the factors used in those adjustments.
Investment-property occupancy also carries its own pricing adjustment.
That means two borrowers purchasing identical rental properties can receive different pricing based on their credit profiles and down payments.
A lower score does not translate into one fixed interest-rate penalty.
The impact depends on the full pricing matrix, the selected interest rate, the lender and market conditions when the loan is locked.
Fannie Mae's pricing matrix is updated periodically, so current figures should be used when comparing actual loan options.
Non-QM Credit Requirements
Non-QM investment property loans do not share a single credit-score standard.
A DSCR lender can set one minimum, while a bank statement or asset qualifier program can use another.
The same lender can also offer multiple versions of a program with different credit and LTV combinations.
For example, a lower credit score could result in a lower maximum LTV, requiring the borrower to bring more money to closing.
It could also affect the interest rate, lender fees or reserve requirement.
That is why non-QM investment property requirements should be evaluated program by program rather than presented as one marketwide minimum.
Credit Requirements for DSCR Loans
DSCR loans focus heavily on the property's rental income, but they do not ignore the borrower.
The lender can still review credit history and use the score when determining eligibility, LTV and pricing.
A property with a strong debt service coverage ratio does not automatically overcome a credit profile that falls outside a lender's program.
Likewise, an excellent credit score does not fix a property that fails the program's required cash-flow test.
The two factors work separately.
The property's rental performance drives the DSCR calculation, while borrower credit remains part of the overall risk assessment.
Those lender-specific rules are an important distinction when comparing a DSCR loan with conventional financing.
Second Home vs. Investment Property Credit Requirements
Occupancy can change both underwriting and pricing.
A legitimate second home is not treated the same way as a rental property purchased primarily for investment.
Investment properties generally carry additional pricing adjustments because the borrower does not occupy the property.
The loan can also require more money down and more reserves.
Your credit profile therefore interacts with a different overall loan structure than it would on an eligible second home.
That makes the credit requirements for a second home a separate question from financing a non-owner-occupied investment property.
What If Your Credit Score Is Lower?
A lower credit score does not necessarily mean you cannot finance an investment property.
It can narrow the available options.
One potential response is a larger down payment.
Lowering the LTV reduces the amount being financed relative to the property's value and can change both underwriting and pricing.
A borrower who does not fit conventional underwriting may also find that DSCR financing evaluates the transaction differently.
That does not mean DSCR is a low-credit mortgage by definition. Its credit requirements are still set by the lender.
Improving credit before applying can also expand the choices available.
Paying revolving balances down can reduce credit utilization, while consistently making payments on time can help protect payment history.
How quickly a score changes depends on what is driving the score and when creditors report updated information.
What Else Matters Besides Your Credit Score?
Credit is only one component of an investment-property mortgage.
Cash reserves can be especially important.
Fannie Mae generally requires six months of reserves for the subject investment property when the loan is underwritten through Desktop Underwriter.
Additional reserves can apply when the borrower owns other financed properties.
That means a borrower with a strong score but insufficient investment property reserves can still have a qualification problem.
Income and debt matter as well.
A conventional borrower typically qualifies using personal income and eligible rental income, while DSCR programs may focus more directly on the property's cash flow.
The property itself also has to meet the requirements of the selected program.
Which Credit Score Do Mortgage Lenders Use?
The answer changed in 2026.
As of Sept. 9, 2026, Fannie Mae- and Freddie Mac-approved lenders can use either Classic FICO or VantageScore 4.0 for eligible loans.
FHFA says lenders may choose between those two approved models during the current transition period.
The same credit score model must be used for all borrowers on the same loan.
FICO Score 10T has also been approved for future use, but it is not currently eligible for loans delivered to Fannie Mae or Freddie Mac.
For eligible Fannie Mae loans using VantageScore 4.0, lenders still obtain scores from each of the three national credit bureaus through a three in-file merged credit report.
Classic FICO also remains available.
Your Mortgage Score May Differ From the Score You See Online
The credit score displayed by your bank, credit card company or consumer credit app may not be the same score used for your mortgage.
The company showing the score may use a different credit model, a different bureau or credit information from a different date.
That difference does not necessarily mean either score is wrong.
They can simply be measuring your credit with different models and data.
The 2026 expansion of VantageScore 4.0 makes it especially important to know which model your mortgage lender is using when comparing scores.
Multiple Borrowers Can Complicate the Credit Picture
Adding a co-borrower adds another credit profile to the application.
That can help if the additional borrower brings qualifying income or assets.
It can also affect the credit assessment if the co-borrower's credit is weaker.
The exact score used for underwriting and pricing depends on the applicable agency rules and the credit model being used.
A co-borrower should therefore be evaluated based on the entire loan file, not added simply as a way to raise the amount of available income.
Bottom Line
There is no single credit score that guarantees approval for an investment property mortgage.
Conventional loans rely heavily on automated underwriting, which evaluates credit alongside LTV, income, debts and reserves.
Your score still matters because it can affect pricing and the amount of flexibility you have with your down payment.
Non-QM lenders set their own credit standards, so DSCR, bank statement and asset qualifier requirements vary by program.
And as of September 2026, conventional lenders can use either Classic FICO or VantageScore 4.0 on eligible Fannie Mae and Freddie Mac loans, making the specific credit model more relevant than it was in prior years.
FAQ
Can You Get an Investment Property Loan With a 620 Credit Score?
Potentially, but 620 should not be treated as a universal approval threshold.
Conventional automated underwriting evaluates the full loan file, and lenders can impose additional requirements. Non-QM programs set their own credit standards.
What Credit Score Do You Need for a DSCR Loan?
There is no single industrywide minimum credit score for a DSCR loan.
Individual lenders and investors set their own requirements, and credit can affect maximum LTV, pricing and other loan terms even though the property is primarily qualified using rental cash flow.
Does a Lower Credit Score Mean a Higher Investment Property Rate?
It can.
Conventional pricing considers credit score and LTV, while investment properties also carry separate occupancy-related pricing adjustments. The exact effect on your rate or points depends on the full loan profile and current market pricing.
Which Credit Score Do Mortgage Lenders Use?
For eligible Fannie Mae and Freddie Mac loans, lenders can currently use either Classic FICO or VantageScore 4.0.
FICO Score 10T has been approved for future use but is not yet eligible for loan delivery as of September 2026.
Can a Co-Borrower Help You Qualify for an Investment Property?
Yes, a co-borrower can add qualifying income and assets to an application.
Their debts and credit are also considered, so adding another borrower does not automatically improve the file. The effect depends on the combined financial profile and underwriting results.
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