What credit score do I need to buy a home?

Your credit score is the single biggest factor that determines if you’ll get approved or rejected for a loan to buy a home. Although lenders look at your income, debt and the amount of savings you have your score is looked at first and foremost.

Guidelines and minimum scores often change so if you’re working with a lender inquire with them to get a definite solid answer.

As of now, a conventional loan backed by Fannie or Freddie can be approved with a 620 score. But you can get approved for an FHA loan with a score as low as 580.

Always check with your lender to find out the guidelines they follow, so you are well prepared ahead of time and you have no unexpected surprises.

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