Minimum credit score by loan type
| Loan type | Typical minimum score |
|---|---|
| FHA | 580 (500 with 10% down) |
| Conventional | 620 |
| VA | ~580–620 (lender-set) |
| USDA | ~640 for automated approval |
| Jumbo | 700+ |
| DSCR (investment) | 660–700 |
How much does credit score affect my rate?
On a conventional loan, the difference between a 640 and a 760 score can be roughly 0.5–1.0 percentage points in rate and much higher PMI. On a $300,000 loan, that can mean $150–$300+ more per month.
How to raise your score before applying
- Pay every bill on time — payment history is the biggest factor.
- Keep card balances under 30% (under 10% is better).
- Don't close old cards or open new accounts right before applying.
- Dispute errors on your credit reports.
Frequently asked questions
Lenders typically pull scores from all three bureaus and use the middle score. If two borrowers apply, many lenders use the lower of the two middle scores.
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Figures on this page are estimates for educational purposes only and are not a loan offer or commitment to lend. Rates, loan limits, fees and assistance programs change frequently and vary by lender, location and borrower profile. Confirm current terms with a licensed loan officer.