580 Credit Score Conventional Loan
Conventional needs 620, so at 580 you are 40 points short — a reachable gap. FHA works for you right now.
By Onias Derilus, Mortgage Capital · NMLS# 1859012 · Last Updated: June 2026
A conventional loan needs a 620 credit score, so at 580 you are 40 points short. That is a reachable gap, often a few months of focused work. Right now, FHA at 580 gives you 3.5% down and is the standard path for buyers at this score, with the option to refinance into conventional once you cross 620.
40 Points From Conventional
At 580 you already qualify for FHA with 3.5% down, so you are not stuck. Conventional just is not open until 620. The advantage of waiting for conventional is cancellable mortgage insurance and better long-term cost.
If 620 is within a few months' reach, it can be worth it. If you want to buy now, FHA at 580 plus down payment assistance gets you into a home, and conventional becomes a refinance target later. We lay out both with real numbers.
| Factor | Conventional at a 580 Score |
|---|---|
| Conventional Minimum | 620 |
| At 580 | Not yet |
| Gap to Qualify | 40 points |
| Works Now | FHA (3.5% down) |
580 Score Conventional Loan — FAQ
Not yet. Conventional requires 620, so at 580 you are 40 points short. You can buy now with FHA at 3.5% down and refinance into conventional once you reach 620, or build the score first if you are close.
Sometimes. Conventional lets you cancel mortgage insurance and usually costs less long term. If 620 is a few months away, waiting can pay off. If you want to buy now, FHA at 580 is a solid path. We compare both.
A Conventional Loan With a 580 Score?
Get matched to the right Florida loan for your score · Licensed FL mortgage broker NMLS# 1859012
Rates are illustrative only. APR and payments vary by credit score, loan amount, and market conditions. Subject to credit approval. Not a commitment to lend. NMLS# 1859012. Equal Housing Lender.