When you’re planning to buy a house, your credit scores are 3-digit numbers that can have a big impact. Your credit scores are a grade of what’s on your credit reports, and they tell lenders how creditworthy you are.
The credit score you need to buy a house can vary depending on the type of mortgage you use. Conventional loans typically require a score of at least 620, but you may be able to qualify for an FHA loan with a lower credit score.
If you plan to buy a home, getting to work on building credit sooner than later could help you qualify for the home of your dreams at a potentially lower interest rate. Here are tips on the best ways to build up your credit score before buying.