What Is The Required Credit Score To Get An Approval For A Mortgage?

By admin - Last updated: Monday, July 27, 2009 - Save & Share - 4 Comments
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For a conventional mortgage, what should your credit score be? How low can it go for an aproval on a conventional mortgage?

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4 Responses to “What Is The Required Credit Score To Get An Approval For A Mortgage?”

Comment from Lillie A
Time July 27, 2009 at 7:32 am

it depends on the lender. My parents just bought a home trhough countrywide and when they were doing the contract the man stated that the will not let you do a contract if your score is not at least 600. The higher the score he better the interets rate but there are people who will lend you at under 600. Also FHA go more on your last 12 months of pay histiry that your credit score. All depends on the lender

Comment from mikeherm
Time July 27, 2009 at 8:36 am

500 – 800
the higher your credit score the better the interest rate that you will be able to get.
For more information on credit scores go to http://www.how-is-your-credit.info/

Comment from northvil
Time July 27, 2009 at 1:19 pm

I know that there may be mortgages that take lower than 620 scores- but you pay more for them. You can get a pre-approval letter where your credit is checked and then you will know how much of a mortgage you qualify for. I can refer you to someone.

Comment from ?
Time July 27, 2009 at 1:48 pm

i would think you could get one with a bad rate with a 620 but you need at least a 700 to get a good rate

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