To Buy A House 2017: What Credit Score

The scores of people who actually closed on homes in 2017 were often significantly higher than the minimums: Average FICO Score 722 Conventional 752 FHA 686 VA 707 The Financial Impact of Your Score

In 2017, the minimum credit score required to buy a house generally ranged from , though the "best" terms typically required a score of 740 or higher . While many programs theoretically allowed lower scores, the actual median FICO score for all approved mortgages in January 2017 was 722 . 2017 Minimum Score Requirements by Loan Type what credit score to buy a house 2017

: Lenders generally looked for at least a 640 for automated approval, though manual underwriting was sometimes possible for lower scores. The scores of people who actually closed on

: Most required a minimum of 620 . Only about 4% of approved conventional borrowers in early 2017 had scores below 650. FHA Loans : These offered the most flexibility: 580 for a 3.5% down payment. 500 if the borrower could provide a 10% down payment. : Most required a minimum of 620

Lenders used different benchmarks depending on the specific mortgage program:

: Technically had no government-mandated minimum, but most private lenders in 2017 enforced a baseline of 620 .