What Credit Rating Do you need to get a home loan?

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asked Jan 7, 2019 in Real Estate - Renting by weaberjiver (320 points)
What Credit Rating Do you need to get a home loan?

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answered Jan 7, 2019 by rsemashryock (310 points)
The FHA requires a credit score of at least 500 to qualify you for the home loan but the higher your credit score the better chance you have at getting approved for the loan whether it's a FHA loan or a regular mortgage loan.

Most other Home Loans through traditional banks might approve you with a 500 credit score but some will require a 600 to 700 credit score to approve the home mortgage loan.

You may also have to have a cosigner sign the home mortgage loan with you to get approved for the home loan if your credit score is not so good.

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