Quick Answer: Can I Buy A House With A Fair Credit Score?

Quick Answer: Can I Buy A House With A Fair Credit Score?

Scores of 660 or lower might mean ending up with a high interest rate and poor loan terms.

To qualify for an FHA loan, which often requires only 3.5% of your purchase amount as a down payment, you’ll need a minimum credit score of 580.

Right now, the average American’s credit score is 695, which is relatively high.

Can I get a mortgage with a fair credit score?

The credit score you need to get a mortgage varies, as there’s no one credit score or universal ‘magic number’. However, if you have a good credit score from one of the main credit reporting reference agencies such as Experian, you are likely to have a good credit score with your lender.

Photo in the article by “Mount Pleasant Granary” http://mountpleasantgranary.net/blog/index.php?m=07&y=14&entry=entry140725-224538