What Credit Score Is Used To Buy A House at Buying

What Credit Score Is Used To Buy A House. What exactly is a “credit score”? You need a minimum credit score of 620 to buy a house.

Scores below 600 would be considered high to very high risk. Your fico score determines which type of mortgage loan you're eligible for, or whether you qualify at all. A score of 620 is required to be approved for a conventional loan.

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While some loan types require minimum scores as high as 640 (conventional loans), others go down to 500 (some fha loans). You need a 620 or higher credit score for buying a house. Your fico score determines which type of mortgage loan you're eligible for, or whether you qualify at all. Base fico credit scores, used by many lenders, range from 300 to 850 and fall into brackets ranging from poor to excellent.