What minimum credit score do I need for a home mortgage?

Minimum credit score requirements vary by loan type. FHA loans accept scores as low as 500 (with 10% down) or 580 (with 3.5% down). VA loans have no official minimum but most lenders want 620. USDA loans typically require 640. Conventional loans generally require 620 at minimum, but scores below 740 may result in higher rates and fees. Jumbo loans typically require 720 or higher. The higher your score, the better your rate — even a 20-point improvement can save thousands over the life of a loan. Before applying, review your credit report for errors and pay down revolving balances to maximize your score.