Most loan programs require a credit score of 620 or higher to buy a house for the first time. That includes conventional loans, most VA loans, and USDA loans (which require 640+).
Home buyers with lower credit may be able to get an FHA loan with a score as low as 580 and a 3.5% down payment.
As a general piece of advice, a higher credit score gets you a lower mortgage rate and bigger home buying budget.
Borrowers with credit scores in the “excellent” range (720+) have access to pretty much any loan program and better rates.
So if it’s at all possible to improve your credit score before you apply for a mortgage and buy a home, it’s worth it to do so.
The information contained on this website is for informational purposes only and is not an advertisement for products . The views and opinions expressed herein are those of the author and do not reflect the policy or position of Brokerage. Source: The Mortgage Reports