Different mortgage "flavors" have different credit appetites:
To buy a home, you generally need a for a conventional mortgage, though some government-backed programs allow for scores as low as 500 with specific conditions. While these are the minimums to get through the door, your score significantly dictates your interest rate and total loan cost. Score Requirements by Loan Type what credit score to buy a home
: Designed for lower-credit borrowers. You can qualify with a 580 and 3.5% down, or even as low as 500 if you can provide a 10% down payment. You can qualify with a 580 and 3
: You will likely secure good mortgage terms, though you might pay slightly more than those with "Excellent" credit. Experts at Fidelity Investments suggest keeping your total
Lenders also look at your . Experts at Fidelity Investments suggest keeping your total monthly debt payments under 36% of your gross monthly income.