What Credit Score Do You Really Need To Buy a House?

By Nathan King

Nathan King, a native of Fresno, has spent his entire life immersed in the vibrant Central Valley community. Nathan loves spending time with his family and helping his clients achieve their real estate goals.

Many buyers hesitate to start their home search because they believe their credit score will hold them back. Maybe you’ve heard you need near-perfect credit or a long borrowing history before a lender will even consider you. That belief keeps many people renting for years. The real story is quite different, and understanding the facts could help you own a home sooner than you expect.

What credit score do you really need? There is no single number that every lender requires. Your credit score goal depends on the type of loan you choose. FHA loans, which are backed by the government, often approve buyers with scores as low as 580.

Some FHA programs will even work with scores in the mid-500s if you can bring a larger down payment. Conventional loans, the most common type used by buyers, generally require a credit score of 620 or higher.

Lenders consider more than credit. A credit score is only part of the picture. Lenders also review your income, savings, and current debts. A steady paycheck, low debt, and money set aside can help offset a lower score. Demonstrating that you handle your finances responsibly can make a strong case for approval, even if your numbers aren’t where you want them yet.

Why improving your score pays off. Raising your credit score can unlock better interest rates. Even a slight improvement can lower your monthly payment and save you thousands over the life of the loan. Taking time to improve your score now can make buying a home more affordable for years to come.

Simple steps to start today. Check your credit report for mistakes and have them corrected. Pay down credit cards to reduce your balances. Make all payments on time and avoid opening new accounts before submitting your application. These actions can raise your score faster than many people expect.

Take the next step toward homeownership. Don’t let uncertainty keep you from exploring your options. Even if your score is lower than you hoped, there are programs and lenders ready to help you build a plan to qualify.

The first step is to determine your current financial situation and identify the loan
that best suits your needs. Contact me today to discuss your credit and home buying goals. Together, we can map out a clear path to your new home. Reach me at
+1 (559) 396-0000 or info@kingrealestate.group to begin your homeownership journey.