What Credit Score To Buy A House 2017 Page

In 2017, the minimum credit score required to buy a house generally ranged from , though the "best" terms typically required a score of 740 or higher . While many programs theoretically allowed lower scores, the actual median FICO score for all approved mortgages in January 2017 was 722 . 2017 Minimum Score Requirements by Loan Type

: Reserved for high-value properties, these typically required a minimum of 700 to 720 . Average Scores of Approved Borrowers (January 2017) what credit score to buy a house 2017

: Lenders generally looked for at least a 640 for automated approval, though manual underwriting was sometimes possible for lower scores. In 2017, the minimum credit score required to

Lenders used different benchmarks depending on the specific mortgage program: Average Scores of Approved Borrowers (January 2017) :

The scores of people who actually closed on homes in 2017 were often significantly higher than the minimums: Average FICO Score 722 Conventional 752 FHA 686 VA 707 The Financial Impact of Your Score