– What Credit Score is Needed to Buy a House? Many potential new homebuyers often wonder if they have the credit score needed to buy a house. While a higher credit score can help make you more attractive to mortgage lenders, and often results in a lower interest rate and monthly payment, you don.
· The average mortgage rate information we used was for purchase-money mortgages made to borrowers with good to excellent credit. Into our calculations, we incorporate metropolitan-area average property tax information using data made available from the Census Bureau’s American Community Survey (ACS).
What Is the Minimum Credit Score to Buy a House? | Sapling.com – One of the largest factors in purchasing a home besides income is a consumer’s credit history. The minimum credit score needed to purchase a home will vary from one type of loan to another; however, it is important to know what underwriting guidelines are in reference to a minimum credit score that is acceptable in order to obtain a mortgage loan.