A good credit score to buy a house generally depends on the type of mortgage loan you are applying for, but most conventional lenders require a minimum credit score of 620 to qualify for a mortgage. This is considered the baseline for conventional loans, which are the most common type of mortgage
. Here is a summary of typical minimum credit score requirements by loan type:
- Conventional loans: Minimum 620, though some lenders may require higher (660 or more)
- FHA loans: Minimum 500 if you put down 10% or more; 580 if putting down 3.5%
- VA loans: No official minimum, but lenders usually require around 620 or higher
- USDA loans: No official minimum, but lenders typically want 580 to 620 or higher
- Jumbo loans: Usually require a higher score, around 700 or more
While you can qualify with lower scores on some government-backed loans, having a higher credit score (above 670 or 700) improves your chances of approval and helps you secure better interest rates and loan terms. Scores above 780 are considered excellent and can lead to the lowest mortgage rates and more favorable loan conditions
. In summary, aiming for a credit score of at least 620 is a good target to buy a house with conventional financing, but higher scores will provide better mortgage options and lower costs overall
