Understanding credit score requirements is vital for securing favorable mortgage terms and ultimately securing your competitive offer for your next home. A FICO score of 620 or higher is often required for a conventional loan, but some programs, like FHA loans, may accept scores as low as 580. Higher credit scores, typically 700 or above, often lead to lower interest rates, resulting in significant savings over the life of the mortgage. Lenders also review debt-to-income ratios, employment history, and overall financial stability. Improving credit by paying down debt and avoiding new credit inquiries can enhance mortgage eligibility. To have the best shot at having your best credit score, consult with a trusted, expert loan officer in your local market to understand how to tackle your credit conditions to maintain or improve your credit score, opening the door to a multitude of loan programs. Surline Real Estate works with local, preferred lenders who understand your needs to set you up for success when it is time to make your offer!