What's the minimum credit score to buy a house

Asked by letzy2, Upper Darby Township, PA Fri Nov 16, 2012

Hi I live in upper Darby and I'm planning to buy a house in here but this is my first experience and I don't know nothing about my questio is what's the minimum credit score that I should have to buy a house I hope you can help me thank you....

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stephen webb…, Agent, Kirkland, WA
Mon Feb 25, 2013
IF you can manage to find an experienced loan officers to look over your credit you will have all of the correct information. Credit for a home loan is very different than credit for consumer items. Experienced loan officers know credit well because they are continually working with credit issues and they have the incentive to produce positive results. They want to make a loan. I have seen so many times through the years borrowers thinking they could not get a loan because they had listened to the wrong advise,get the credit report infront of a sharp loan officer and within a day have a qualifying credit report. Too much misinformation available. Avoid credit repair until the loan officer looks it over. And until than dont do anything that will effect your credit. Even paying a past due can cause a problem. There are articles at Your-Road-Home.com that will serve you well. Also Consultation-Interviewing Loan Officers, also on Your-Road-Home.com. Best of Luck
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Claudia Camp…, Agent, Smithfield, RI
Sun Nov 18, 2012
For FHA most banks will go with a mid fico of 620. Some non-profits (first time homeowner) in your state may go as low as 580. Coventional/non-conforming you will need 680 and a 5-20% down payment.
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Flag Mon Jun 27, 2016
Tina Lam, Agent, San Jose, CA
Fri Nov 16, 2012
In theory, there's no minimum credit score needed. You can get hard money loans with virtually no credit. Or, you can just pay cash with no credit needed. If you're looking to get a mortgage, there are a number of programs available. Some start as low as 500, but conventional loans start at 620. If you want decent loan terms, you should have 760 or better.
Web Reference:  http://www.archershomes.com
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What programs start at 500? I would love to buy a house. All of my credit is from medical issues.
Flag Mon Aug 26, 2013
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