Conventional Loans
What credit score do I need for a conventional loan?
Answered by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker
The minimum for a conventional loan is 620, but pricing improves sharply as your score rises. At 740 and above you get the best rates and the lowest PMI.
Between 620 and 700 you'll still qualify, just with somewhat higher PMI and rate. If you're close to a tier break, we'll tell you whether a small score bump is worth the wait before locking.
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