Having a high credit score makes it easier to qualify for large loans, such as a mortgage, and receive low interest rates. However, depending on your circumstances, you might not be able to quickly improve your credit score before you need to buy a home. So knowing the minimum credit score requirements can be helpful for prospective homebuyers.
The quick answer is that having a credit score of 620 or higher is helpful, but you may still be able to buy a house with a score as low as 500. But, there’s a lot of nuance you should understand beyond that. Read on and we’ll explain what credit score is needed to buy a house based on the type of mortgage you’re applying for (and what types of scores matter).
