Multilateral Development Banks. The Department of Treasury leads the Administration's engagement in the multilateral development banks (MDBs), which include the World Bank, Inter-American Development Bank, Asian Development Bank, the African Development Bank, and the European Bank for Reconstruction and Development.
The USDA does not enforce a credit score minimum, but most USDA lenders are looking for a score of 660 or above. There are options to secure a loan below this score, but it requires additional paperwork and comes with additional requirements.
Your credit history and score also factor into the decision. Ample income isn't enough to obtain a construction loan. Loan companies have specific credit requirements, and the higher your credit score, the better. Aim for a credit score of 680 or higher if you need a construction loan up to $417,000. For loans that exceed this amount, you need a score of 700 or higher. You can order your own credit score from Myfico.com. If your credit does not meet a construction lender's minimum requirement, take steps to improve your score.