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Scoring a home should be a slam dunk for many Americans. Here's the credit score you require to buy a home in 2023 — and it's probably lower than you'd think Skip to main content
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 ...
However, depending on your circumstances, you might not be able to quickly improve your credit score before you need to buy a home. So knowing the minimum credit score requirements can be helpful ...
You don’t need a score as high as 800 to buy a home (though it certainly helps). Some types of loans have no minimum credit score requirements, and FHA loans can be had with a score as low as ...
Credit Rating. FICO Score Range. Excellent. 800 and above. Very Good. 740 to 799. Good. 670 to 739. Fair. 580 to 669. Poor. 300 to 579
Qualifying for a home equity loan typically requires a minimum of 15% to 20% equity in your home after first and second mortgages are accounted for, a credit score of at least 620 (although higher ...
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