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”