What Homebuyers Need To Know About Credit Scores

In this Article...

Navigating the home-buying process can be challenging, especially when it comes to understanding credit scores. In Savannah and the surrounding areas, EBRSavannah, an agency dedicated solely to assisting home buyers, emphasizes that many prospective buyers are unaware of the minimum credit score requirements. With lenders offering options for scores ranging from 500 to 700, it's clear that perfect credit isn't necessary. Exploring loan options with a knowledgeable lender is key to finding the best fit for your financial situation.

What Homebuyers Need To Know About Credit Scores

Some Highlights

• Data shows 7 out of 10 prospective homebuyers don’t know the minimum credit score required by lenders or that it varies by lender and loan type.
• According to Experian, the range is anywhere from 500 to 700 for the minimum credit score. That means you don’t need perfect credit to buy a home. 
• Your credit score is important – but that doesn’t mean it needs to be perfect. Work with a lender to learn more about home loan options that may work for you.