Your credit score is one of the first things a lender looks at, but the minimum you need depends on the loan program. Lower scores are not automatically a dealbreaker.
General minimum scores by program
- FHA: 580 or higher for 3.5% down, or 500 to 579 with 10% down
- Conventional: usually 620 or higher
- VA: no set minimum from the VA, though many lenders look for 580 to 620
- Jumbo: often 700 or higher because of the larger loan size
Your score affects your rate, not just approval
Two buyers can both get approved and still get very different interest rates based on credit. A higher score generally means a lower rate, which can save tens of thousands of dollars over the life of the loan.
What goes into your score
Payment history and how much of your available credit you use are the two biggest factors. Length of credit history, the mix of accounts, and recent new credit make up the rest.
Even a small score bump before applying can move you into a better rate tier. If you are close to a threshold, it is worth a quick conversation before you apply.