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Loan Type. Minimum Credit Score. Conventional loans. 620. FHA loans. 500 (with 10% down payment); 580 (with 3.5% down payment) USDA loans. The USDA has no minimum limit, but lenders generally like ...
Conventional loans (620): Many conventional loans—mortgages that aren’t part of government-backed programs—require a credit score of at least 620. Jumbo loans (680 to 720): Large ...
The average credit score for an FHA loan carrier is 645, and the average loan amount is $215,000. VA Loan Veterans may qualify for a number of benefits using a Veteran Affairs (VA) home loan.
Loan type. Credit score minimum. Conventional loan. 620 or 660 depending on program. FHA loan. 580 (or 500 with a minimum 10 percent down payment) VA loan
Exceptional Credit. 800 and above. With a credit score of 800 and above, you can get approved for a mortgage loan more easily. Approval is not, however, guaranteed.
The minimum credit score required for a conventional loan is 620, while other mortgages require scores between 500 and 700. A higher credit score usually translates to a lower interest rate.
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