Quick Answer: What Can A 620 Credit Score Get You?

Typical minimum FICO scores by mortgage type:

VA Loan – 620+ credit score (some lenders require 580) USDA Loan – 640+ credit score.

FHA 203K Loan – 620+ credit score.

Conventional Loan – 620+ credit score.

How bad is a credit score of 620?

Excellent/very good credit score: 700 to 850. Good credit score: 680 to 699 (Average American score is 682) Average/OK credit score: 620 to 679. Low credit score: 580 to 619.

Is 620 a good credit score to buy a car?

According to FICO, consumers having scores in the 700-850 range are considered near-prime or prime borrowers. That means they’ll garner the lowest interest rates and most-favorable loan terms. Borrowers who fall below the 620 mark are often considered “subprime.” That means they’ll pay more to finance a car.

Can you get a loan with 620 credit score?

Most mortgage lenders will provide prime level loan rates with credit scores as low as 620. Some will go as low as 600, and a few as low as 580. Generally speaking, your best mortgage bet with fair credit is an FHA mortgage. Get a cosigner who has good or excellent credit.