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Lowest credit score that can qualify for a home purchase

by Martin

I have one question here. What is the very lowest credit score that I could possibly have and still be able to meet the mortgage loan qualifications for a new home purchase?


Nice question here. Sadly, the lowest credit score lenders are allowing these days is no where near what it used to be. But when you think about, it is better for us all when the credit score requirements is higher since this indicates your ability to repay the mortgage.

At one time, I remember that people could buy a house with scores as low as 500. This was a sub-prime loan and these were the loans that began the fall of the banking system back a few years ago.

Because people with such low scores could buy a house, this created some serious problems in the mortgage market and thus the deflating of our property values.

Now it requires a 620 score to get a VA or FHA loan which has become the new sub-prime loans. If you had a 720 score you were the borrower who could get the lowest rates and best mortgage deals. Now even that is not enough, many lender are looking for 740 scores or better.

So hopefully this answers your question. Feel free to visit my page on VA loans since I can see you must be a in the service now.

Here's a couple of links to consider, credit repair VA Loans

Best Regards,


Comments for Lowest credit score that can qualify for a home purchase

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Lowest credit score
by: Laisha

Great question, I was wondering the same thing!

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