What credit score do I need to qualify for a mortgage?

Share this Advice

In order to qualify for the best rates, the baseline minimum score is 720. However, the mortgage underwriting process takes into account several factors including income, outstanding debt, and amount of liquid assets (think savings accounts and 401K) as well as your credit score. This means that you may still qualify for a mortgage with a lower score. On the flip side, you may be required to have a higher score for certain mortgages and other contribution factors especially in today's economic environment. Speaking with a mortgage professional and going over your particular situation is a good way to know if you qualify for a mortgage.

To find the best rates in your local area, you can compare mortgage rates from hundreds of financial intuitions. Rates are updated daily.

Back to All Credit Q&A

Comments

(5 Total Comments)

I just had a repo on a auto how will this effect my getting a home loan credit score is 643"

jayvonohlen at 1:07 pm Nov 10

i have a credit score of only 546 is there any lenders that will work with that to get a home loan"

johnffarmer at 1:23 pm Nov 4

I would try credit unions"

cropchick at 9:00 pm Dec 11

As of right now, the banks are looking at a minimum of 620 for your middle score. Some banks and some programs are now requiring 640. There is also a rumor that FHA loans will require either 660 or 670 here in the near future to even qualify."

firegod94 at 11:23 am Oct 6

Well I just bought a home and I actually only had a 610 score but like this article says they do take in other factors like my work history which i have been with my job for 8 years and i am only 26 so that looks really good"

tsanders26 at 4:33 am Oct 27