Q : Is it true that if you dont have a vica score of 6 then theres no point in trying to get approved for a loan?
A : From what I have experienced, the minimum FICO score most lenders are ‘drawing the line at’ is 620 . Now, there may be a few (if any) that would consider as low as 580, but the trend seems to be 620 now & soon, 640 or more. I would, however, never suggest giving up on anything before you gave it a ‘old college try’ ! so, call around, it shouldn’t cost you anything! In the event you can’t get approved now, find out what steps you need to make to improve your score.