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Conventional loans: A credit score of 800 is well above the minimum needed to qualify for a conforming conventional loan, which is typically 620. In fact, with an 800, you ought to qualify for ...
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 ...
Mortgage lenders use specific credit scores—here are the minimum scores you need for a variety of mortgage types. Skip to main content. 24/7 Help. For premium support please call: ...
FHA loans: A 620 score is well above the minimum for an FHA loan, a popular type of mortgage for first-time homebuyers. Applicants need a score of at least 500 with a 10 percent down payment.
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.
If your score is between 670 and 739, you have good credit, so you can likely qualify for a home loan, but probably won’t qualify for a mortgage with an excellent interest rate.
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related to: what is considered a good credit score for mortgage loanHighest Satisfaction for Mortgage Origination, 2010-2017 - J.D. Power
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