What is a Good Credit Score to Buy a House
Buying a home is a major milestone and one of the biggest financial decisions you'll ever make. Whether you’re a first-time buyer or upgrading your living space, your credit score plays a critical role in getting mortgage approval. But what is a good credit score to buy a house , and how does it affect your chances? Understanding how credit scores impact home loan eligibility, interest rates, and loan terms will help you prepare better and possibly save thousands over the life of your mortgage. Why Credit Scores Matter for Homebuyers A credit score is a three-digit number that represents your creditworthiness based on your credit history. It ranges from 300 to 850 in most scoring models like FICO and VantageScore. Lenders use this score to determine how likely you are to repay your mortgage on time. Your credit score affects: Whether you qualify for a mortgage The type of loan you can get (conventional, FHA, VA, USDA) Your interest rate The amount of down payment required You...