Every lender has a set minimum credit score they require to approve homebuyers for a mortgage. Some lenders will accept lower credit scores while others have stricter requirements.
– Traditional fixed-rate loans typically require a minimum score of 620 to qualify
– Adjustable-rate mortgages (ARMs) require a minimum score of 600
– FHA loans backed by the U.S. Federal Housing Administration
Find a housing counselor in your local area. The Consumer Financial Protection Bureau (CFPB) offers a helpful tool that lets you search for housing counseling agencies by zip code.
Take a first-time homebuyer course. Many first-time homebuyer programs require you to provide a certificate of completion for a HUD-approved first-time homebuyer course.