What Credit Score Do I Need for a Mortgage?

Most conventional mortgage programs require a minimum credit score of 620, though a score of 740 or higher will qualify you for the best interest rates available. FHA loans are more flexible, accepting scores as low as 580 with a 3.5 percent down payment, or even 500 with 10 percent down. VA and USDA loans do not have a government-mandated minimum, but most lenders look for at least 620. Keep in mind that your credit score also affects your interest rate and mortgage insurance costs, so improving your score before applying can save you thousands over the life of the loan.