According to Ellie Mae’s most recent Origination Insight Report, 69 percent of borrowers have FICO scores over 700. This means that a good chunk of homebuyers (about one-third) have lower scores. In fact, most FHA borrowers have scores in the 650-699 range and nearly 19 percent of FHA borrowers have scores from 600 to 649.

Yes, a high score helps immensely in the home purchase process. Not only are you more likely to get the loan, but you’ll pay less for it as well. But don’t let a less-than-perfect credit score stop you if you’re dreaming of your own home.

Just remember that when shopping for a lender, the advertised interest rate is only for its most well-qualified borrowers and, if your credit stinks, your rate will be higher.


Buying your first home can be overwhelming. Let us help!  We are committed to finding you any grant monies or assistance programs available to you.  Our buyer agent services are FREE!  Please contact us for more information.  We have assisted hundreds of first time home buyers and look forward to the opportunity to assist you!


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