Your Credit Score Can Make or Break Your Mortgage Deal

Your credit score is one of the first things lenders look at—and it plays a major role in determining whether you’re approved for a home loan, what kind of loan you qualify for, and what your interest rate will be.

Here’s a quick breakdown:

• FHA loans may accept scores as low as 580 (sometimes even lower).

• Conventional loans usually require 620 or higher.

• VA loans often don’t have a strict minimum, but lenders typically look for 620+.

The better your credit score, the lower your interest rate. That can save you thousands over the life of your loan. But your credit score isn’t everything—lenders also look at income, debt, and employment history.

If your score needs a little boost before applying, here’s what you can do:

• Pay down credit card balances

• Don’t open new lines of credit

• Review your credit report for errors

• Make all payments on time

Not sure where you stand? Take our quick quiz and we’ll match you with a trusted expert who can guide you through your options.