How much credit would be needed for a $415,000 house?

+1 vote
asked Dec 13, 2017 in Real Estate - Renting by Lolly (190 points)
How much credit would be needed for a $415,000 house?

1 Answer

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answered Dec 16, 2017 by Essmann (42,860 points)
To get a mortgage for a $415,000.00 home you're gonna need a good credit score of at least 650 or above.

And you'll need a good amount for down payment. You'll probably need at least $50,000.00 down to get the $415,000.00 mortgage.

You're gonna need a good income as well because your payments for a $415,000.00 home are gonna be around $13,000.00 per month on a 30 year home mortgage.

That's a lot of money for a monthly payment on a home mortgage.

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