09/01/2026
MYTH BUSTED: Perfect credit is not the price of admission.
You don't need an 800 credit score to become a homeowner. FHA loans allow scores as low as 500 with a larger down payment, or 580 with the standard 3.5% down payment, and Fannie Mae and Freddie Mac removed minimum credit score requirements from their conventional loan guidelines as of November 2025 though individual lenders still set their own standards, typically around 620.
In fact, the average score for buyers actually approved for FHA purchase loans is around 600, well above the minimum floor, proving most successful buyers aren't scraping by, they're simply informed.
Don't let a number you assume is "too low" keep you from checking.
