This is for my future information. What is the minimum that your credit score has to be in order to quilify through a bank to buy your first house? On a scale between 350~850. Thanks.
Buying a house and credit score?
If you are able to prove your income, 620 would get a reasonable deal.
Bu it varies widely, you may qualify for an FHA loan or other government agencies%26#039; loans even with lower scores.
You%26#039;d better off check it with a knowledgeable mortgage broker.
Buying a house and credit score?
There is no minimum score. As long as you don%26#039;t have NEGATIVE information in your history, you can get a mortgage WITHOUT a credit score. The process is known as manual underwriting and was used by ALL banks before FICO was invented. It involves actually investigating you payment history (not just pulling a credit report) and looking at you income. An actual decision is them made about your ability to repay the loan. The average Millionaire has NO FICO score.
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