Anonymous asked in Business & FinanceCredit · 1 decade ago

Buying a house and credit score?

This is for my future information. What is the minimum that your credit score has to be in order to quilify through a bank to buy your first house? On a scale between 350~850. Thanks.


I live in West Virginia but I also like Maryland.

9 Answers

  • 1 decade ago
    Best Answer

    Depends.... I know for first time buyers it can be between 650 to 750, but of course the higher your credit, the lower your interest. I dont know what state you live in, but where I live there are programs to help first time buyers. Try to go into this with good credit (700) or perfect (730+).

  • Anonymous
    1 decade ago

    Hi there, first of all all bank are different and banks use various credit scoring models. To make matters worse the models can change daily in line with risk e.g. because of the current credit crunch most banks will have raised the score requirement SO -

    The only solution is to get the best score you can and see a mortgage adviser to see which lender is accepting the most people with a fair interest rate - previously this would have been Northern Rock - now you might wat to consider the Abbey?

    OK the best score - every field on the app form is relevant I mean every field. So take time before you answer! Have you got a cheque guarantee card? Check every card and if not get one - even tho you may have snapped up your credit or store cards you still have them and they will appear on a credit search so tick the yes box and you will get more points. Another key one is the length in job/current home and bank - Just because you may have a bank that you use regularly that doesnt mean that you have been there the longest - have you an account that you opened as a child? Use that one for the form and your normal a/c to repay the DD - again more points.

    So I hope this proves useful - if you want me to arrange your mortgage in the future please just contact me. I am a independant mortgage adviser - AND I DONT CHARGE A FEE!!!

    Good luck

  • Steveo
    Lv 5
    1 decade ago

    There are many variables. Depends on on how much you have to put down for the down-payment.

    First house credit score is the same as any credit score. You still need to qualify.

    The website below has the general rules for comparing scores to interest rates. Of course interest rates will determine payments, and payments will determine whether you qualify. I've bought several homes and I have refinanced a few times. I was a part time broker as well.

  • 1 decade ago

    You dont need a credit score.

    Find a bank that does manual underwriting. it's not a sub prime loan and you can get the same low interest rates(as long as you don't have bad credit). It's the way it was done before the I love debt score.

    If you don't believe me call around.

    Check out and listen to his radio show. He has lots of great advice on money and debt. It doesnt cost a dime to listen.

    Of course the bankers and their loyal followers are gonna tell you to worship at the alter of the almighty fico score. But, the truth is all that gets you is DEBT.

    Debt is Dumb!

    Debt free is the way to be!

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  • 1 decade ago

    they want high as possible but 600 -- 620 is what mine was.

    i got 150,000 at 6- 1/4 % but i did the 20 year instead of the 30 and paid 30, down instead of 15,

    its gonna make the payments like mine right at a grand a month

  • Anonymous
    1 decade ago


  • Anonymous
    1 decade ago

    It varies from lender to lender & week to week. Right now most want to see 680 or better

  • Kas-O
    Lv 7
    1 decade ago

    You have to have A-1 credit, to buy a house, like 800 are more....

    Source(s): me
  • Ollie
    Lv 7
    1 decade ago

    I think the higher your score the better.

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