To Buy A House 2017 - Best Credit Score

Backed by the Federal Housing Administration, these were highly popular in 2017 for buyers with lower credit. 580+ Score: Qualified for the minimum down payment of 3.5% .

Lenders use your FICO score to gauge risk. Different loan programs had the following benchmarks during this period: best credit score to buy a house 2017

Most lenders required a minimum score of 620 . These loans are not backed by the government and typically offer better rates for those with scores above 720. Backed by the Federal Housing Administration, these were

Could still qualify, but required a 10% down payment . Backed by the Federal Housing Administration

Designed for veterans and active-duty members, the VA itself did not set a minimum credit score. However, most private lenders in 2017 applied a "credit overlay," typically requiring at least a 620 .