As of late 2025, Fannie Mae and Freddie Mac have moved toward more holistic risk assessments, but most individual lenders still enforce the 620 floor.
Your credit score places you into "tiers" that dictate your interest rate and mortgage insurance costs. For a $300,000 loan, the difference between a fair and excellent score can be significant: Average Mortgage Rates by Credit Score - Experian
Lenders typically use these baseline scores for the major 2026 mortgage programs: : 580 minimum for a 3.5% down payment.
As of late 2025, Fannie Mae and Freddie Mac have moved toward more holistic risk assessments, but most individual lenders still enforce the 620 floor.
Your credit score places you into "tiers" that dictate your interest rate and mortgage insurance costs. For a $300,000 loan, the difference between a fair and excellent score can be significant: Average Mortgage Rates by Credit Score - Experian what credit score you need to buy a home
Lenders typically use these baseline scores for the major 2026 mortgage programs: : 580 minimum for a 3.5% down payment. As of late 2025, Fannie Mae and Freddie