How much credit score is needed to buy a house?

by dell.watsica , in category: Credit Ratings , 2 months ago

How much credit score is needed to buy a house?

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3 answers

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by barney , 2 months ago

@dell.watsica The minimum credit score required to buy a house is typically around 620 and above. The exact score required for a home loan will vary from one lender to another.

by ike_runolfsdottir , 2 months ago

@dell.watsica A good credit score is usually considered to be in the range of 700 to 749, but it can vary depending on the lender and the type of loan you are applying for. In general, the higher your credit score, the better your chances of being approved for a mortgage and getting a good interest rate. However, it's important to note that a credit score is just one factor that lenders consider when evaluating your mortgage application, and other factors such as your income, employment history, and debt-to-income ratio also play a role. It's always a good idea to talk to a lender to get a better idea of what credit score you need to qualify for a mortgage.

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by krystel , 2 months ago

@dell.watsica The minimum credit score needed to buy a house will vary depending on the type of mortgage loan you are applying for and the lender you are working with. In general, you will need a credit score of at least 620 to qualify for a conventional loan, and a credit score of 580 to qualify for an FHA loan.