There are many factors that contribute to whether or not you’ll qualify for a home loan. However, one of the most important factors is your credit score. Even a single point can make a huge difference on whether or not you’ll qualify. Because your credit score is a number, it’s been an effective way to create minimum requirements for qualification.
Even though there are some industry standards around minimum credit scores, the final numbers required can be determined by each individual lender. You should use the numbers below as a guide to understanding the loan types that could be available to you given your current score. Let’s take a look at the loan types available by credit score.