A mortgage is the most thoroughly underwritten loan you'll ever get, which makes it the one where your score matters least on its own. Lenders set minimum scores by loan type, but they weigh your debt-to-income ratio, your down payment, your cash reserves, and a steady income history just as hard. A strong overall file can carry a middling score; a great score can't rescue a shaky one.
Is there a minimum credit score for a mortgage?
It depends on the loan type:
- FHA loans: 580 with a 3.5% down payment, or 500 to 579 with 10% down. These are government-insured and popular with first-time buyers.
- Conventional loans: usually 620 or higher, with the best rates reserved for scores around 740 and up.
- VA and USDA loans: no minimum score set by the government, though individual lenders add their own floors.
Those numbers are floors, not targets. Many lenders layer on stricter "overlays," their own internal minimums above the official ones.
What matters as much as your score
- Debt-to-income ratio: your monthly debt payments against your income. FHA loans often allow up to about 43%, higher with strong compensating factors, and conventional loans are similar. This is frequently the real gatekeeper.
- Down payment: as little as 3% to 5% is possible, but more lowers both your rate and your mortgage insurance cost.
- Cash reserves: the money left after you close. Lenders like to see a cushion.
- Steady income: generally two years of documented history. Job stability matters as much as the number.
The score a mortgage lender pulls may differ from your app's
Mortgage scoring is in transition. Many lenders still use mortgage-specific "classic" FICO models, while newer FHFA-approved models (VantageScore 4.0, and FICO 10T in applicable programs) are entering use, so which model scores your mortgage depends on the lender, the loan program, and where they are in the rollout. As a common convention, lenders pull all three bureaus and use your middle score. That number can be different from the one in a free credit app, sometimes materially, so don't assume your app score is what you'll qualify on. Because the three bureaus rarely match, it's worth knowing what each one shows.
Why errors cost more on a mortgage than anywhere else
A mortgage runs 30 years, so a small rate difference is enormous: on a $400,000 loan, a rate that's just 0.50% higher costs roughly $32,000 more over the life of the loan. Your rate is set by what's on your report, and about 44% of Americans' credit reports contain an error (Consumer Reports / WorkMoney, 2024). Since all three reports feed the decision, an error on any single one can drag down the middle score a lender uses. That's why you check months ahead of a mortgage, not days: a dispute needs time to resolve before a lender locks your rate.
If you're self-employed or new to U.S. credit
A thin or non-traditional file doesn't shut you out. Lenders can underwrite manually, weighing things like on-time rent and utility payments, and self-employed buyers typically show two years of tax returns in place of pay stubs. The common thread is the same one running through this whole topic: the more your file proves you're reliable, the less any single number decides.
This article is general information, not financial advice.
Common questions
What credit score do I need to buy my first home?
There's no universal number. An FHA loan can go as low as 580 with 3.5% down, while conventional loans usually want 620 or more. Your down payment, existing debt, and income weigh just as heavily as the score.
How far ahead should I check my credit before buying?
Months, not days. If you find an error, a dispute generally takes about 30 days per bureau, and you want it resolved well before a lender pulls your file and locks a rate.
