Hi Stephanie

It depends on what type of program you are looking to do. If you are seeking a conforming mortgage then 680 is acceptable, however to qualify for the best rates and lowest costs you'll need a 740 middle score or higher. A conforming loan is probably going to require at least a 10% down payment in today's market.

An FHA mortgage, on the other hand, does not have pricing adjustments based on your credit score and you may be able to qualify with as little as a 600-620 credit score depending on your credit history. If you do a good job of paying your bills on time you're probably OK.

I'd recommend speaking with a local, reputable mortgage lender who can educate you on the process and see what you can be approved for. I can be reached at 734-528-5511 if you would like assistance

Best of luck,
Tony

Stephanie,

I Googled mortgage credit score requirements and came up with several results that may help you.

http://www.google.com/search?hl=en&q=mortgage+credit+sco…

Please watch for possible scams.

good morning....i consider any credit score where i can close one of my clients a good score regardless of what it is...however.perhaps the question should be, what is the minimum score a potential homebuyer can have and expect to obtain financing......620 and higher is the general rule-of-thumb, however, i can go as low as a 580 mid-score on an fha purchase.i hope that helps.....bob mcclure- success mortgage partners- plymouth, michigan.......

Stephanie,

Excellent decision on your considering a home purchase. With the combination of low property values and favorable interest rates, it surely is an amazing time. Buyers seem to be coming out of the woodwork recently.

680 may surely qualify you for an FHA loan, which is a fantastic option for most 1st time buyers.

If you would like more information, contact names, etc., please email me at Derek@DoorToDreams.com, contact me through my Trulia profile, or I can be reached on my cell at 734.678.4745.

Thank you.

Derek Bauer, Associate Broker / Realtor
Real Estate One - West Bloomfield / Farmington Hills

Stephanie...credit score is one factor for a loan, income and debt are the other. Generally 600 is the lowest score I've been able to get buyer's approved with of late. Check out a lender that can do an FHA or USDA loan for you. MHSDA is a State of Michigan program that may work for you as well (under it they'll loan you downpayment/closing cost money).