What Homebuyers Need To Know About Credit Scores

Published on
December 13, 2024
What Homebuyers Need To Know About Credit Scores

In this Article...

Navigating the homebuying process in Charleston can be daunting, especially when it comes to understanding credit scores. Realtor Charlotte Lemon from Charleston Home emphasizes that many buyers are unaware of the minimum credit score requirements, which range from 500 to 700, depending on the lender and loan type.

What Homebuyers Need To Know About Credit Scores

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Some Highlights

  • Data shows 7 out of 10 prospective homebuyers don’t know the minimum credit score required by lenders or that it varies by lender and loan type.
  • According to Experian, the range is anywhere from 500 to 700 for the minimum credit score. That means you don’t need perfect credit to buy a home. 
  • Your credit score is important – but that doesn’t mean it needs to be perfect. Work with a lender to learn more about home loan options that may work for you.
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