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dgrimes09

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Whats the average credit score for approval for house loan

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Conventional Financing (Fannie Mae/Freddie Mac) - gold standard is 740, although you can get decent financing with scores as low as 680.

FHA Financing - gold standard is generally 680+, although most lender offer financing down to a 640

Under a 640 score your options will be severely limited.  

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A FICO score of 580 is the absolute minimum to proceed with an application for most lenders, and even then you'll need to have sufficient income, low levels of debt, no overly negative marks, etc.  640 is typically considered prime, but you'll need to have a 740 or higher to be eligible for prime rates.

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