Key Takeaways
- Minimums vary by loan: FHA can go as low as ~580 (or 500 with more down); VA, USDA and conventional often ~620.
- Non-QM and down payment assistance programs help borrowers around 620.
- A higher score means a lower rate — not just approval.
- You likely have more options than you think.
There’s no single magic number — the credit score you need depends on the loan. Here’s what each program requires and how to qualify with less-than-perfect credit.
What credit score do you need by loan type?
As a general guide: FHA allows scores as low as 580 with 3.5% down (or 500 with 10% down); VA and USDA typically want around 620; conventional usually starts near 620; and many down payment assistance programs sit at 620–640.
How does your score affect your rate?
The higher your score, the lower your rate and monthly payment. Even a 20–40 point improvement can move you into a better pricing tier and save real money over the life of the loan.
Can you buy with a lower score?
Yes. FHA, certain non-QM programs and many down payment assistance options are built for credit-challenged buyers. Let’s look at your scenario.
Frequently Asked Questions
Can I buy a house with a 580 credit score?
Yes — FHA loans allow scores as low as 580 with 3.5% down (or 500 with 10% down), subject to lender approval.
What credit score gets the best mortgage rate?
Generally 740 and above earns the best conventional pricing, though every 20-point tier helps.
Does checking my own credit hurt my score?
No. Checking your own credit is a “soft” inquiry and does not affect your score.
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