how much credit score is good to buy a house

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Yes, it’s normal. I know I’m late to the party but think I can contribute something meaningful for others. I closed on my home in Dec 2016. My score was 812 pre-purchase. I had 2 hard credit pulls during the mortgage lending process that knocked 10pts off my score. Now in April 2017 my mortgage was just reported to the credit bureaus and added to my credit report.

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Good – 670 to 739. Your credit score may affect your interest rate, but often not by much. You should see rates within 0.25% to 0.5% of the lowest available. Very good – 740 and higher. Your credit score will likely help you get the lowest interest rates and the best payment terms the market allows.

Credit scores of 550 or less are considered undesirable by most lenders. And while a score of 700 is the average, a not-too-far-from-average 650 may not be sufficient to get a mortgage loan.. It often takes a score of 700 or higher to be taken seriously by a lender.

But since a credit score is an important factor in the home-buying process, Many potential buyers think they can't buy a house if their credit has tanked, but.

What Credit Score Do You Need to Buy a House? Written by M. Shayne arcilla; updated june 30, 2017 A credit score of at least 660 will qualify you for a decent mortgage rate.

One of the first things you’ll need to know if you’re starting to shop for a house is your credit score. Your credit score will determine how high or low your interest rate is, how much of a down payment you need to give and even how much a house you can buy. Plus, it’s a vital part of getting.

Why does credit score matter? Your credit score is a number between 300 and 850 that helps determine how much money your lender. credit score can impact the home buying process. Two people are set.

. bad credit? A low credit score doesn't necessarily mean you can't buy a home. Read on to see how a borrower with bad credit can purchase a home.. to talk to a lender. Many lenders will have a conversation with you about your eligibility with no obligation to apply for a loan.. Very good credit = 740 to 800. Good credit.