what does your credit score need to be to buy a home?
(0) | asked by: Jamie Scott | share | 48 months ago | Report
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Depends on lender and loan type. Call a local lender in your town.
The quick and magic number is 620, but if you're score is lower don't let it stop you from talking to preferably a local, reputable lender who can give you specific steps to take to raise your score and help position you to enter the home buying market. Please contact me if you'd like the name of one or more fantastic local lenders.
believe it or not it can be as low as 580, but any score below 640 you are going to have many can't haves on your report.
If your score is over 640 you will qualify for most any loan program. FHA says that it can take scores as low as 580 but typically borrowers that have that score have other underlying problems that prevent them from obtaining a mortgage. Definitely call a mortgage loan originator we can help.
The easy answer is 620, but there are a number of variables in obtaining a mortgage. You should find a reputable loan officer and have a conversation about your specific circumstances. If you need a referral just let me know!
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