what kind of credit do i need to buy a house

Sally Herigstad: How to get a mortgage with no credit history. – Do I really have to get a credit card before I can buy a house?. You will probably want to get an FHA loan anyway, because most non-FHA.

A good credit score is an excellent starting point for anyone considering a VA loan. But what exactly is a good credit score? Does the VA have a credit score minimum? How do VA credit requirements stack up against other mortgage options? One of the best benefits of the VA loan program is its relaxed credit requirements.

Applicants with lower credit scores will have to put down a 10 percent down payment if they want to qualify for a loan. So if you’re planning to buy a house, and your credit score doesn’t meet the minimum, you should weigh the advantages and disadvantages of putting down a larger down payment or using those funds to try and improve your credit.

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What Credit Score Do You Need to Buy a House? Answered – The Ideal Credit Score to Buy a House According to most authorities, you need a score of 740 or above to qualify for the best rates. One reputable source said 760, but the majority of our sources said 740.

What Credit Score is Needed to Buy a House? – Do you know what kind of credit is required to secure a loan? Read on to find out more about the credit requirements for buying a house and to get a better idea of the role your credit plays in getting a mortgage. What credit score is needed to buy a house?

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Mortgage lenders require a minimum credit score when qualifying to buy a house. Higher credit scores favorably affect creditworthiness and ultimately rates.. 1 What Credit Score Do You Need to.

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Most lenders are guided by credit score minimums. For VA home loans, VA lenders look for a score of 620 or higher, but potential VA borrowers with low credit may still be able to obtain a VA loan. Check out this list of credit score requirements for VA loans, FHA loans, USDA loans and conventional loans.