What's the minimum credit score for a mortgage?

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asked Oct 6, 2019 in Real Estate - Renting by 00089723 (420 points)
What's the minimum credit score for a mortgage?

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answered Oct 7, 2019 by Gracy (64,790 points)
The minimum credit score for a traditional mortgage is 600 or above.

Some mortgage lenders won't approve the mortgage unless you credit score is at least 640 or above unless you have a cosigner sign the mortgage agreement along with you.

You can sometimes get an FHA mortgage which a lower credit score such as 580 and above and sometimes lower but the higher your credit score the better chance you have at getting the mortgage.

As of 2019 and likely beyond most lenders for a home mortgage will require a credit score of at least 620 or above.

If your credit score is less than 620 then you are unlikely to get approved for a mortgage unless you can get either a VA home loan or an FHA loan.

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