Cigar-Hodge said that even lenders like Fannie Mae have raised their credit scores for certain types of loans.
However, Cigar-Hodge said higher down payment requirements aren't as common as mandatory high credit scores right now. If you talk to a lender that has raised its minimum down payment amount, then you can probably find another lender that will accept less.Because so many Americans are facing financial hardship during the pandemic, some lenders may require more proof than usual that you're financially secure.
"I'm only speaking for Better.com," she said. "We only account for two years. Some other lenders may have longer periods of time they want to account for."With the influx of mortgage and refinancing applications, some lenders may take longer than usual to process your application. Application approval may go more quickly with online lenders that process your information digitally, though., may take longer than you'd expect.
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