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What is the lowest your credit score can be to be able to finance the purchase of a home?

  • July 04 2014 - Goshen
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Answers (4)

Snottypoo,

If you are still searching for a lender or a home, I would love to help.  I have a lender right in this area who writes file by file and looks at more than a credit score.  I live and work in Goshen, IN and am very familiar with it's surrounding areas.  Feel free to contact me if you have questions!
  • June 02
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Depends, Government loans such as VA and FHA will go down to a 580 credit score.  Agency programs such as Fannie and Freddie are subject to an automated approval engine that evaluates the strength of the applicant but are generally around 620.  So, more/less assets or more/less money down can change the approval. 
  • July 17 2014
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Profile picture for sandraestrada

It depends on the bank, a good thing to do is to find out what your score is get a report and then find a bank so you can avoid each lender from pulling your credit history each time, they will eventually need to do that, but at least you will have the opportunity to shop around without hurting your credit.

  • July 17 2014
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There are a few things that you may need to factor in when it comes to financing a home, and not just the credit score. The acceptable score may vary depending on where you are located. In Maryland, I've had lenders approve a loan for someone with a credit score as low as 580.
  • July 17 2014
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