Minimum Credit Score For A Home Loan

The subject of minimum credit score for a home loan encompasses a wide range of important elements. Credit Score to Buy A House: Best to Minimum Score Needed .... A good credit score to buy a house is 720 or higher. 800 or higher is ideal, unlocking the very best loan rates and terms. Borrowers with scores of 670 can still expect decent rates.

Fannie Mae: We're Getting Rid of the 620 FICO Score .... Fannie Mae announced that effective November 16, 2025, there will be no minimum credit score requirement for new mortgage applications. Previously, applicants needed a credit score of at least 620 for conventional mortgages. What Credit Score Is Needed to Buy a House?

Another key aspect involves, you’ll generally need a 620 credit score to buy a house. Some loan programs allow you to qualify for a mortgage with a credit score as low as 500, but you’ll need to pay a higher interest rate and make a larger down payment. Another key aspect involves, about 70% of all mortgages are conventional loans, which typically require a FICO score of 620 or better. If your score is 760 or higher, you should qualify for the best interest rates. Building on this, generally, you’ll need a credit score of at least 620 to buy a house with a conventional mortgage.

Mortgage credit score requirements vary based on loan type and can range from 500 to 700. What’s the Minimum Credit Score to Buy a Home? For conventional loans you usually need a minimum credit score of 620 or higher to qualify. Exceptions occasionally apply.

Government-backed loans may allow you to borrow with a lower credit score. Understanding your credit score is key to getting a favorable mortgage interest rate. You generally need a credit score of at least 620 to qualify for a loan to buy a home.