Whats The Minimum Credit Score To Buy A House at Buying

Whats The Minimum Credit Score To Buy A House. All consumers falling below the 620 credit score mark are required to provide additional documentation and will be placed in a manual underwriting queue for approval, which can take as long as 30 days. At the start, it will determine which loan options you can even consider as a homebuyer.

Before we dive into the options available for those looking to buy a house, let’s take a look where your credit score lies. Mortgage lenders generally require a credit score of at least 580 to 620 to buy a house. Credit scores range from 300 to 850 (a perfect score), but most people fall somewhere in between, which is why lenders and even credit bureaus break credit scores into ranges:

But it should also be noted that the credit score required to get approved for a mortgage in 2022 also depends on several other factors. Second, mortgage lenders are bound by specific rules which determine what credit scores you need to buy a house, and those rules vary by your loan type. A perfect credit score is 850. Conventional loans are the most common loan type.