Your credit score (commonly called a FICO®Score) can range from 300 at the low end to 850 at the high end. A score of 740 or above is generally considered very good, but you don’t need that score or above to buy a home. Credit scores are maintained by the national credit bur...
to make the switch from renting to owning a home, a good credit score can be essential for getting your foot in the door. While credit scores aren't the only thing lenders consider for mortgage approval, they do carry a lot of weight. So, what is a good credit score to buy a house...
Having several months’ worth of reserves might be a requirement if you don’t have a high credit score. How you plan to use the home can also affect the decision. For instance, it may be easier to qualify for a loan to buy a single-family home that you’ll use as your primary ...
If you're considering buying a home, one crucial factor that lenders will evaluate is your credit score. This three-digit number plays a significant role in determining your eligibility for a mortgage and the interest rates you'll be offered. Understanding what a credit score is, how i...
Want to buy a home? Make sure your credit score is in tip-top shape first. (iStock) For many people, buying a home is the most expensive investment they’ll ever make. Thus, it's important homebuyers know the credit score needed to buy a house, the loan type they desire,...
If you’re in the market to buy a house, there’s more to think about than how many bedrooms you need or square-footage; getting a handle on your credit score is an essential step that is vital to think about early on. Why is your credit score so importa
How good and bad credit impacts buying a home Your credit could play a role in determining the houses you can purchase. With a good credit score, you may qualify for a larger mortgage that will allow you to buy a more expensive home. Bad credit, on the other hand, may limit your opti...
The minimum credit score you need to buy a home depends onthe type of mortgageyou plan to borrow. A conventional mortgage usually requires a credit score of at least 620, but it may be possible to qualify for a government-backed loan with a score as low as 500. ...
Find out what credit score you need to buy a house and the other factors that can affect whether you get approved.
Getting a mortgage to buy a home requires showing you can repay the money that you borrow. One of the key ways that lenders judge your ability to pay back a loan is by checking your credit.Mortgage lenders use your credit score and other information on your credit report to decide whether...