What credit score do you need for a mortgage? For a conventional loan, generally 620. For FHA, as low as 580, or 500 with a larger down payment. VA loans have no official government minimum, though individual lenders set their own. Here’s the real breakdown by program, and what actually changes above and below these numbers.
The Quick Answer: Minimum Credit Scores by Loan Program
Conventional: 620. FHA: 580 (500 with at least 10% down). VA: no official minimum, though most lenders look for 580-620. Jumbo: typically 680-700 or higher. These are minimums to qualify, not the score needed for the best available rate.
The Complete Guide to Mortgage Qualification in Texas →
Conventional Loans: 620 Minimum
Most conventional loan programs set 620 as the credit score floor. Below that, conventional financing generally isn’t available, though FHA or another program might still work. However, with a 620 credit score, in most cases you will need a strong file – such as cash reserves – to obtain an approval.
FHA Loans: 580 (or 500 With 10% Down)
FHA loans allow scores as low as 580 with the standard 3.5% down payment. With a score between 500 and 579, FHA still allows financing, but requires a larger 10% down payment. Often lenders will set a minimum they will accept that is above FHA’s requirement.
VA Loans: No Official Minimum, But Lenders Set Their Own
The VA loan itself doesn’t set a minimum credit score. In practice, individual lenders establish their own minimums, commonly somewhere in the 580 to 620 range, since the VA guarantee protects the lender but doesn’t eliminate their own risk standards.
Jumbo Loans: Typically 680-700+
Loans above the conforming loan limit generally require stronger credit, often 680 to 700 or higher, along with larger reserves and a lower debt-to-income ratio, since jumbo loans carry more risk for the lender without the same government backing.
The Score You Need to Qualify vs. the Score You Need for the Best Rate
Meeting the minimum gets you in the door. It doesn’t get you the best available rate. Pricing improves in tiers as your score climbs, meaning a 760 credit score typically unlocks meaningfully better pricing than a 620, even on the exact same loan program.
Credit Score Myths That Could Cost You a Better Rate →
What If My Score Is Below These Numbers?
A score below these thresholds today doesn’t mean it stays there. Specific, targeted credit work, paying down revolving balances, disputing errors, avoiding new credit, can move a score meaningfully within a matter of months, sometimes enough to shift which programs are available to you.
How to Raise Your Score Before Applying
The fastest-moving lever is usually credit utilization, how much of your available credit you’re using. Paying down card balances tends to produce the quickest improvement. Disputing genuine reporting errors and avoiding new credit applications in the months before applying also help protect your score right when it matters most.
Mortgage Planner’s Perspective
The minimum score to qualify and the score that gets you the best deal are two different numbers, and most borrowers only ever hear about the first one. Knowing where you actually stand, and what moving your score even 20 or 30 points could change, is worth understanding before you assume a number is out of reach.
NEXT STEP
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The Complete Guide to Mortgage Qualification in Texas
Credit Score Myths That Could Cost You a Better Rate
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What Does Mortgage Pre-Approval Really Mean?
FREQUENTLY ASKED QUESTIONS
Minimums by Program
Q: What credit score do I need for a conventional loan?
A: Generally 620, though scores well above that unlock better pricing.
Q: What credit score do I need for an FHA loan?
A: 580 with the standard 3.5% down payment, or as low as 500 with a 10% down payment.
Q: Is there a minimum credit score for a VA loan?
A: The VA itself doesn’t set one. Individual lenders set their own minimums, typically in the 580-620 range.
Improving Your Score
Q: What’s the fastest way to raise my credit score before applying?
A: Paying down revolving credit card balances tends to produce the quickest improvement, since credit utilization has a significant impact on your score.
Q: Does my score affect my rate even if I already qualify?
A: Yes. Pricing improves in tiers as your score increases, so a higher score can mean a meaningfully better rate even on the same loan program.
Q: Can I qualify with a score below 580?
A: It’s more limited, but not impossible. FHA allows scores between 500-579 with a larger 10% down payment.
Texas Mortgage Plan – 50+ years of combined mortgage experience, serving homeowners and homebuyers across Flower Mound and the DFW Metroplex. Elizabeth Rose, NMLS 252686, CDLP® Certified Divorce Lending Professional | Shea Patton, Mortgage Advisor, NMLS #251397, Licensed Realtor. Texas Mortgage Plan is a d/b/a of Legacy Mortgage, NMLS #1759275 | Equal Housing Lender
