• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Welcome to Eastern Oregon Living

Eastern Oregon Lifestyle & Real Estate

  • Our Eastern Oregon
    • Morrow County
      • Boardman
      • Heppner
      • Ione
      • Irrigon
      • Lexington
    • Umatilla County
      • Adams
      • Athena
      • Echo
      • Hermiston
      • Milton-Freewater
      • Pendleton
      • Pilot Rock
      • Stanfield
      • Ukiah
      • Umatilla
      • Weston
  • Community
  • Lifestyle
    • Links to Additional Lifestyle Resources
  • Events
  • Real Estate
    • Listings
    • Reviews
    • Market Trend Reports
    • Home Tips
    • Buyer & Seller Resources courtesy of Paladin Realty Team (external link)
    • Links to Additional Real Estate Resources
  • Contact
    • Facebook: Paladin Realty Team
    • Dawn @ Keller Williams
You are here: Home / Real Estate / What Credit Score Do You Really Need To Buy a House?

What Credit Score Do You Really Need To Buy a House?

August 15, 2024 by Dawn Blalack

What Credit Score Do You Really Need To Buy a House? Simplifying The Market

When you’re thinking about buying a home, your credit score is one of the biggest pieces of the puzzle. Think of it like your financial report card that lenders look at when trying to figure out if you qualify, and which home loan will work best for you. As the Mortgage Report says:

“Good credit scores communicate to lenders that you have a track record for properly managing your debts. For this reason, the higher your score, the better your chances of qualifying for a mortgage.”

The trouble is most buyers overestimate the minimum credit score they need to buy a home. According to a report from Fannie Mae, only 32% of consumers have a good idea of what lenders require. That means nearly 2 out of every 3 people don’t.

So, here’s a general ballpark to give you a rough idea. Experian says:

“The minimum credit score needed to buy a house can range from 500 to 700, but will ultimately depend on the type of mortgage loan you’re applying for and your lender. Most lenders require a minimum credit score of 620 to buy a house with a conventional mortgage.”

Basically, it varies. So, even if your credit isn’t perfect, there are still options out there. FICO explains:

“While many lenders use credit scores like FICO Scores to help them make lending decisions, each lender has its own strategy, including the level of risk it finds acceptable. There is no single “cutoff score” used by all lenders, and there are many additional factors that lenders may use . . .”

And if your credit score needs a little TLC, don’t worry—Experian says there are some easy steps you can take to give it a boost, including:

1. Pay Your Bills on Time

Lenders want to see that you can reliably pay your bills on time. This includes everything from credit cards to utilities and cell phone bills. Consistent, on-time payments show you’re a responsible borrower.

2. Pay Off Outstanding Debt

Paying down what you owe can help lower your overall debt and make you less of a risk to lenders. Plus, it improves your credit utilization ratio (how much credit you’re using compared to your total limit). A lower ratio means you’re more reliable to lenders.

3. Don’t Apply for Too Much Credit

While it might be tempting to open more credit cards to build your score, it’s best to hold off. Too many new credit applications can lead to hard inquiries on your report, which can temporarily lower your score.

Bottom Line

Your credit score is crucial when buying a home. Even if your score isn’t perfect, there are still pathways to homeownership. Let’s connect if you want to go over your options with an expert.

Filed Under: Real Estate

More Posts

The 3 Things You Risk by Pricing Too High

What Credit Score Do You Really Need To Buy a Home?

Home Price Forecasts for the Second Half of 2025

Today’s Tale of Two Housing Markets

Primary Sidebar

Recent Posts

  • The 3 Things You Risk by Pricing Too High
  • What Credit Score Do You Really Need To Buy a Home?
  • Home Price Forecasts for the Second Half of 2025
  • Today’s Tale of Two Housing Markets
  • How Your First Home Purchase Is More About Mobility Than Property

Archives

  • July 2025
  • June 2025
  • May 2025
  • April 2025
  • March 2025
  • February 2025
  • January 2025
  • December 2024
  • November 2024
  • October 2024
  • September 2024
  • August 2024
  • July 2024
  • June 2024
  • May 2024
  • April 2024
  • March 2024
  • February 2024
  • January 2024
  • December 2023
  • November 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019

Categories

  • Community
  • Events
  • Lifestyle
  • Outdoors
  • Real Estate
  • Restaurants
  • Uncategorized

Search For Listings

Footer

Dawn Blalack
Oregon Principal Broker

  • 541-310-9563
  • [email protected]
  • Facebook
  • LinkedIn

Nathan Good
Transaction Coordinator

  • 541-310-7070
  • [email protected]
  • Facebook
  • LinkedIn

Copyright © 2025 · Agent Focused Pro by Winning Agent · Log in

Contact Us:

EOL Logo
PRT Logo

Terms and Conditions - Privacy Policy