Most lenders require a minimum of 620 mid credit score for an Fha loan however there are some products available for those with scores as low as 580 (other stipulations involved).
A 651 Credit score is fine to get a loan and you will probably need to do an FHA loan.
How bad is a 651 credit score?
A 651 credit score is not a good credit score, unfortunately. You need a score of at least 700 to have “good” credit. But a 651 credit score isn’t “bad,” either. It’s actually in the “fair” credit tier.
What is the ideal credit score to buy a house?
Right now, the average American’s credit score is 695, which is relatively high. For top-notch rates, aim to improve your credit score to around 740 before applying for a mortgage. Most conventional mortgages require a credit score of 620 or higher.
Can I buy a house with a 650 credit score?
Things you can do with a 650 Credit Score
When applying for an Federal Housing Administration (FHA) loan, you’ll need at least a 580 score to be approved. However, 640 is the lowest for conventional loans. This puts anyone with a 650 credit score at a good position to receive the financing they need.
Can I buy a house with a 620 credit score?
If your score is below 620 to 640: An FHA (Federal Housing Administration) home loan is your best option because most lenders won’t approve a conventional loan for borrowers with a credit score below 640. However, your mortgage insurance is likely to be higher with an FHA loan.