Credit — Score Needed To Buy A Condo

You will likely pay a higher interest rate and may need a larger down payment to offset risk. 500 - 619

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580 with a 3.5% down payment; 500–579 with a 10% down payment. FHA loans are great for first-time buyers, but the condo building itself must be FHA-approved. credit score needed to buy a condo

You qualify for the lowest possible interest rates and lower private mortgage insurance (PMI) premiums. 700 - 739

Your credit score doesn't just determine "yes" or "no"; it determines your . Credit Score Impact on Your Loan 740 - 850 You will likely pay a higher interest rate

To buy a condo, you generally need a minimum credit score of , though requirements vary significantly based on the type of loan you choose.

This will tell you exactly what your "mortgage middle score" is before you start falling in love with units. Are you a first-time homebuyer ? What city or state are you looking to buy in? Learn more 580 with a 3

I can then provide specific or lender requirements for your area.