To Buy A House 2017: What Credit Score

: Technically had no government-mandated minimum, but most private lenders in 2017 enforced a baseline of 620 .

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 what credit score to buy a house 2017

: Reserved for high-value properties, these typically required a minimum of 700 to 720 . Average Scores of Approved Borrowers (January 2017) : Technically had no government-mandated minimum, but most

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 Average Scores of Approved Borrowers (January 2017) The

: Lenders generally looked for at least a 640 for automated approval, though manual underwriting was sometimes possible for lower scores.