The minimum credit score you need to buy a home will vary based on a few factors: 1. The type of mortgage you want 2. The lender you’re asking 3. Who you are
Certain types of home loans allow you to qualify with a lower credit score while others require a higher score.
Every lender has a set minimum credit score they require to approve homebuyers for a mortgage. Some lenders will accept lower credit scores while others have stricter requirements.
Your personal situation may also come into play when it comes to getting a mortgage with bad credit. The best example is VA loans, which are backed by the U.S. Department of Veterans Affairs. VA loans have no minimum credit score requirement.
So, What’s The Secret to Buying a House With Bad Credit?
No matter what your circumstances are, there is one surefire way to find all the opportunities available to you to buy a house with bad credit. All it takes is one free phone call and a quick consultation with a HUD-certified housing counselor.