: You can still buy a home, but you may be limited to government-backed loans or pay higher interest. Beyond the Score: The "4 C's"
To buy a house, a is generally the minimum threshold for standard conventional loans. However, the "good enough" score depends heavily on the type of mortgage you choose and the interest rate you want to secure. Minimum Credit Scores by Loan Type good enough credit score to buy a house
: Often requires a minimum between 580 and 620 , though some lenders like Freedom Mortgage may accept scores as low as 550. : You can still buy a home, but
While 620 is a common benchmark, several programs allow for lower scores: Minimum Credit Scores by Loan Type : Often
: You can qualify with a score as low as 500 if you can provide a 10% down payment. If your score is 580 or higher , the down payment requirement drops to just 3.5%.