General Score Ranges
Most traditional lenders like a score of 680 or higher for the best approval odds and terms. Scores between 600 and 680 can still qualify, often with a slightly different set of lenders or conditions, while scores below 600 usually mean looking at alternative or private lending options.
What Impacts Your Score Most
Payment history and credit utilization are the two biggest factors. Missing payments or maxing out credit cards can drag your score down quickly, while a long history of on-time payments and low balances builds it up over time.
- Payment history
- Credit utilization ratio
- Length of credit history
Checking Your Score Before You Apply
It is worth pulling your own credit report a few months before you plan to apply, so you have time to correct any errors or pay down balances. Checking your own score does not hurt it.
Score Is Not Everything
A strong income and down payment can sometimes offset a lower score, and vice versa. Lenders look at the whole picture rather than a single number in isolation.
Improving Your Score Quickly
Paying down credit card balances, avoiding new credit applications, and making sure all bills are paid on time in the months before applying can make a noticeable difference in a short period.
Frequently asked questions
- What is considered a good credit score for a mortgage?
- Generally 680 or above is considered strong for accessing the widest range of lenders and terms.
- Can I get a mortgage with a 600 credit score?
- Yes, it is possible, though your lender options and terms may be more limited.
- Does checking my own credit score lower it?
- No, checking your own score is a soft inquiry and does not affect your credit rating.