Credit Buying Power

Credit scores are one factor mortgage lenders consider when evaluating you for a loan. Lenders also use your credit scores to help set your interest rate and other loan terms.

Most conventional mortgages require first-time homebuyers to have a minimum credit score of 620 for approval.

First-time homebuyers whose credit scores don't hit the standard minimum may still be able to qualify for a mortgage through FHA, VA or USDA programs.