Conventional Loans Questions
Explore questions about conventional mortgages, down payments, and mortgage insurance.
What credit score do I need for a conventional mortgage?
Quick Answer
For a conventional loan, a credit score of 620 or higher is typically required. Scores from 500 to 579 generally require at least 20% down. I am able to do a soft credit pull which doesnt hurt your credit score at all, to figure out what your mortgage credit score is currently. If its not 620 or higher and you dont have 20% down, we can work together to increase your credit score and I can create a free customized credit plan tailored to you.
Just because you have a credit score above a 620, doesnt mean you will qualify for a conventional loan, and it also doesnt mean that a conventional loan is the best option for you. If your score is above a 500 and you have 20% equity in your home, you could qualify to refinance. If you dont currently qualify, we can work together to get you to qualify.
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