One of the biggest misconceptions I hear from homebuyers is “I need perfect credit to qualify for a mortgage.” The truth? There are mortgage programs for buyers with different credit scores.
📌 What’s the Minimum Credit Score for a Home Loan?
✔ FHA Loan: 580 (or as low as 500 with a higher down payment)
✔ Conventional Loan: 620+
✔ VA Loan (for Veterans): No minimum, but lenders prefer 580+
✔ USDA Loan (for rural homes): Typically 640+
If your score isn’t quite there yet, don’t worry! Here’s how you can improve it:
✔ Pay bills on time – Even one late payment can drop your score
✔ Reduce credit card balances – Try to keep balances below 30% of your credit limit
✔ Avoid opening new accounts before applying – New inquiries can temporarily lower your score.
✔ Check your credit report for errors – Dispute any incorrect information.
At Viva Casa Solutions, we don’t just help you get a mortgage—we also help you prepare for mortgage approval. If you’re unsure about your credit, let’s review it together and make a plan!