Minimum Credit Score to Get a Mortgage

Minimum Credit Score to Get a Mortgage

The minimum credit score to get a mortgage depends on the loan program, with some options available for scores as low as 500 while others require 620 or higher. Lenders set these thresholds based on the risk profile of each loan type, and your score is just one factor in the final decision.

FHA Loans

FHA loans, backed by the Federal Housing Administration, are the most accessible for lower credit scores. Borrowers can qualify with a score of 500 if they put down 10 percent, or a score of 580 with a 3.5 percent down payment. The FHA does not set a strict minimum, but individual lenders may impose a higher floor, often around 580.

Conventional Loans

Conventional loans, which are not government-backed, typically require a minimum credit score of 620 for a conforming loan. Some lenders may accept scores in the low 600s, but rates and terms worsen as the score drops. Jumbo loans, which exceed conforming limits, often require scores of 700 or higher.

VA and USDA Loans

VA loans for veterans and USDA loans for rural buyers do not have a statutory minimum credit score, but lenders generally look for scores in the low to mid 600s. Because these are government-guaranteed programs, underwriting is more flexible than for conventional loans.

What Else Matters

Beyond the minimum credit score to get a mortgage, lenders evaluate debt-to-income ratio, employment history, down payment size, and reserves. A lower score can be offset by a larger down payment, a stable income, or a lower debt load. Interest rates also rise as credit scores fall, which can add thousands to the cost of the loan over time.