Hello Marie,
My office right up from you in Mendota Heights, so I am can sit down with you and answer any and all questions you may have. WIth a question such as you have posed it comes down to what are you looking to do with how much down. As Elizabeth wisely pointed out 620 is about the minimum score at least until the FHA upgrades the needed credit score to 640. Please feel free to contact me to go into specifics for your situation.
Sean@spectrafinancial.com

Marie,
Get pre-approved, save a lot of disapointments. Credit issues are more the norm, the stigma went away.
I just saw a big name Realtor's house go into foreclosure on Lake Minnetonka. Make sure you buy very smart. If you are going to buy a TH or Condo, plan on staying 5 years or more.

While credit score is not the only compenent for acquiring a loan, it is critical if you are seeking FHA or Conventional Financing, Insured conventional as well. For most FHA financing, you need 3-5% downpayment and a credit score above 620. Some people will tell you they were able to obtain financing with a lesser score, but other indicators may have improved their ability These might have included little or no debt, a more significant downpayment, the loan to value ratio and their own debt to income ratio. If you wish to analyze your specific ability to acquire financince, as well as a free, no obligation check up and plan to raise your score, call me at 612-986-4105. I will gladly help you take a snapshot of your potential and plan for getting the property and the loan you desire. Liz

Hi Marie,
FHA has no Score rule, but the unspoker Middle credit score is 620 for FHA. Remember that there are 3 credit scores.
Conventional Mortgage is higher because the Mortgage Insurance Companies do not approved them at lowers scores.

Benito.