The short answer: it depends on the type of loan and your financial situation — but here’s a general guide:
- Conventional Loan: Usually a 620+ credit score is required. Higher scores get you better rates.
- FHA Loan: Often 580+ with a 3.5% down payment. Lower scores may still qualify with a bigger down payment.
- VA or USDA Loans: Typically no strict minimum, but lenders still check your credit and ability to pay.
The truth is, credit score is only part of the picture. Lenders also look at your income, debt-to-income ratio, employment history, and the loan programs available — including grants and assistance for first-time buyers.
At Trealtorr, we help you understand exactly what you need, guide you to programs that fit your situation, and work with lenders to get you the best rate possible — even for a $250,000 home.
📲 Call or text us today at +1 (347) 831-6085 we’ll help you see what loans and programs you qualify for and get you into your first home stress-free.