Think you need a perfect credit score to buy a home? You’re not alone, but you might be overestimating. According to Fannie Mae, 90% of buyers either don’t know or assume the required score is higher than it really is. That misunderstanding could be keeping you from moving forward when you’re actually ready.
There’s no universal credit score requirement. It depends on your lender, loan type, and financial profile. For example, conventional loans often go to buyers with scores around 740, but FHA loans can be available with scores as low as 580. VA and USDA loans typically require scores around 620–640. So no, you don’t need an 800 to qualify. In many cases, a score in the 600s can still open doors.
Even though credit requirements are flexible, your score still matters. It can impact your mortgage rate, loan terms, and monthly payments. Generally, the higher your score, the better the rate, and that can mean big savings over time.
If you want to boost your score, start by paying bills on time, paying down existing debt, checking your credit reports for errors, and avoiding new credit applications before applying for a mortgage.
Bottom Line: Your credit doesn’t have to be perfect to buy a home, but improving it can help you get better terms. Want help figuring out your next steps? The Moving Greater Boston Team can connect you with a trusted local lender and guide you through the process.
Grab our FREE Buyer’s Guide; it's full of tips, tools, and expert advice to help you navigate your journey with confidence.
