how high does my credit score need to be to buy a house

What Your Score Gets You. If your score is between 620 and 639-considered a risky score by some creditors-you could pay an interest rate of 5.718 percent on a $300,000, 30-year conventional mortgage. As of mid-August, 2010, If your score is at the high end, 760 to 850, your interest rate could be 4.129 percent on the same loan.

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What Credit Score Do You Need to Buy a House? Written by M. shayne arcilla; updated june 30, 2017 A credit score of at least 660 will qualify you for a decent mortgage rate.

The 5 factors that determine your credit score. Five factors determine your credit score, which can range from 300 to 850, but they’re not given equal weight. The pie chart below shows the breakdown. 1. payment history | 35%. Do you pay your bills on time? That’s the best way to improve and maintain your credit.

A good credit score can land you your dream home without a nightmare mortgage. Nicholson achieved a 720 score that allowed her and her husband Ryan, 31, to buy their first home with an affordable.

What credit score is needed to buy a house? In the UK, there is no set minimum credit score you need in order to buy a house. However, if you’re buying a house with a mortgage, your credit score must be high enough for lenders to be willing to offer you a mortgage.

Buying a house is an exciting milestone, but getting a mortgage to finance the purchase is challenging for some people.It can be especially devastating if your credit isn’t good enough to qualify for a mortgage. If you’re wondering what credit score is needed to buy a house, the answer is, it depends.

A 580-credit score will qualify you for the minimum FHA down. Your browser does not currently recognize any of the video formats available.. So, you're thinking about buying a house and you just pulled your credit.

If you know that each of your FICO credit scores is around 760 or higher, your credit is excellent and there’s no need to try to improve your score. Good credit. If your FICO scores are between 700 and 759, then you have a choice: cleaning up you reports and getting your scores about 760 will get you a slightly lower interest rate, but not much.