A FICO score between 620 and 650 is considered fair to good credit.
But keep in mind, this range of credit scores does not guarantee you will qualify for a mortgage.
Even if you do qualify, it won’t get you the lowest interest rate possible.
Most banks, however, won’t approve such a loan at that credit score.29 Jan 2019
How much of a home loan can I get with a 650 credit score?
The minimum for VA loan is also 620, however, some banks can allow consumers with 580 credit scores to be approved. The Federal Housing Administration allows for at least a 580 credit score with a 3.5% down payment. Yet, if your score is between 500 – 579, you can still be approved. You’ll just have to put down 10%.
Is 650 a good credit score to buy a house?
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.8 Oct 2017
What can you get with a credit score of 650?
650 credit score basics
A 650 FICO score is generally considered to be Fair. If you have a 650 credit score, you may still be denied some loans and credit cards — and you may be forced to pay higher interest rates for the ones you are approved for.12 Feb 2019
Can I get a home loan with 650 credit?
As far as types of loans and programs, there are conventional, FHA, VA, and USDA loans that are available to borrowers with credit in the 650 or higher range. With a 650 score, you may expect to have several options when it comes to loan programs.