What Homebuyers Need To Know About Credit Scores
KCM Crew • December 13, 2024
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.
Unfortunately, a lot of sellers today are setting their asking price too high. That’s leading to an uptick in price cuts.
If buying a home is on your radar – even if it’s more of a someday plan than a right now plan – getting pre-approved early is still one of the smartest moves you can make.
Lately, it feels like a lot of people have been asking the same question: “Is the housing market about to crash?”
