In 2017, your credit score directly dictated your interest rate (APR). For a 30-year fixed mortgage, the average differences were stark: : ~3.87% APR 700–759 : ~4.09% APR 620–639 : ~5.46% APR Comparing FHA Credit Score Requirements to Other Mortgages
: Reserved for high-value properties, these typically required a minimum of 700 to 720 . Average Scores of Approved Borrowers (January 2017) what credit score to buy a house 2017
: Lenders generally looked for at least a 640 for automated approval, though manual underwriting was sometimes possible for lower scores. In 2017, your credit score directly dictated your
In 2017, the minimum credit score required to buy a house generally ranged from , though the "best" terms typically required a score of 740 or higher . While many programs theoretically allowed lower scores, the actual median FICO score for all approved mortgages in January 2017 was 722 . 2017 Minimum Score Requirements by Loan Type In 2017, the minimum credit score required to
The scores of people who actually closed on homes in 2017 were often significantly higher than the minimums: Average FICO Score 722 Conventional 752 FHA 686 VA 707 The Financial Impact of Your Score
: Technically had no government-mandated minimum, but most private lenders in 2017 enforced a baseline of 620 .