What Credit Score Do You Need to Buy a Home?

What Credit Score Do You Need to Buy a Home in Massachusetts?

Your credit score plays a major role in the type of loan you qualify for and your interest rate.

Minimum Credit Score Requirements

• 580 – FHA loans

• 620 – Most conventional loans

• 700+ – Best rates and lowest private mortgage insurance (PMI)

Why Your Score Matters

A higher score can:

• Lower your interest rate

• Reduce your monthly payment

• Increase your buying power

• Lower or eliminate PMI

Can You Buy a Home With Less-Than-Perfect Credit?

Yes. Many buyers purchase with scores in the 600s every day in MA.

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