: Usually required due to the higher risk of large loan amounts. Why Your Score Matters (Interest & Costs)

“Mortgage lenders can now use newer credit scoring models, like VantageScore 4.0, which consider additional information – such as rent, utilities, or telecom payments. This can help more people, especially those with limited or 'thin' credit histories, have...” MECU Credit Union · 4 months ago Tips for Homebuyers in 2026

: As of late 2025, Fannie Mae and Freddie Mac shifted toward a more holistic risk assessment, potentially benefiting those with strong assets but lower scores. FHA Loans : 580+ : Qualifies for the minimum 3.5% down payment . 500–579 : Possible with a 10% down payment . VA Loans : No official minimum set by the government.

: In 2025, high home prices and interest rates pushed the median home buyer's FICO score to a record high of 768 . Perspective on New Models

A higher score doesn't just mean approval; it directly impacts your monthly budget.

: Lenders typically use a "tri-merge" report from Equifax, Experian, and TransUnion.