The short answers. There is no single minimum. FHA: 580 or higher qualifies for maximum financing (a 3.5% minimum investment), 500 to 579 is limited to 90% financing, and below 500 is not eligible. Conventional (Fannie Mae): 620 for manually underwritten fixed-rate loans and 640 for adjustable-rate, but no minimum for loans run through its automated system. VA: VA sets none, and lenders often want around 620. USDA: the handbook gives no number. Every lender can add stricter rules, and a lower score usually costs more on conventional loans.
The minimum by loan type
Each loan program has its own rulebook, and the rulebooks are published by the agency or company behind the loan. This table sums up what they say. It shows the official rule, not what any one lender will accept, because lenders can require more.
| Loan type | Rule from the source | What else the source says |
|---|---|---|
| FHA (rulebook: HUD) | Not eligible below 500. At 580 or above, eligible for maximum financing. At 500 to 579, limited to a 90% loan-to-value ratio. | Maximum financing on a purchase is 96.5% of the adjusted value, with at least 3.5% invested by the borrower. For manual underwriting, scores below 580 are capped at 31/43 ratios. |
| Conventional (rulebook: Fannie Mae) | Manually underwritten: 620 for fixed-rate, 640 for adjustable-rate. Loans run through Desktop Underwriter (DU): no minimum score. | Price adjustments for the lender rise as the score falls (table below). The guide lists 620 as the minimum for FHA, VA and USDA loans that lenders deliver to Fannie Mae. |
| VA (rulebook: VA) | VA does not require a minimum credit score. | VA's buyer's guide says lenders may typically want 620 unless there is a large down payment, and that lenders may add standards of their own. |
| USDA (rulebook: USDA Rural Development) | No numeric minimum in the handbook's credit chapter. USDA's automated system (GUS) sets the acceptable score behind its recommendation. | Lenders may add overlays. Certain adverse items make an applicant ineligible whatever the score. |
Two cautions. First, "lenders may add overlays" means the number you hear from a lender can be higher than the table. Second, these are the rules for the loan programs, not the whole picture. A lender also looks at your income, debts, savings and the home. See pre-approval vs prequalification for what lenders ask for, and the debt-to-income ratio calculator to check your ratio.
Which of your scores does the lender use?
You do not have one credit score. The CFPB explains that your score from each of the three credit reporting companies can differ, and that lenders use different scoring models for different types of loans (CFPB: Do I have to pay for my credit score?). So the mortgage rules say how to reduce them to one number, and Fannie Mae's Selling Guide and HUD's FHA handbook use the same method:
- One score for each borrower. With three scores, use the middle one. With two, use the lower. With one, use that one.
- One score for the loan. With several borrowers, use the lowest borrower's score. Fannie Mae calls it the representative credit score, and FHA calls it the minimum decision credit score. A borrower without a score is left out.
- An exception for manual underwriting at Fannie Mae. With more than one borrower, the minimum-score test uses the average of the borrowers' median scores, so one low score does not sink the loan by itself.
Fannie Mae's Selling Guide prints these examples, and the code on this page checks that it gets the same answers:
| Scores | Representative score | Average median score |
|---|---|---|
| One borrower with scores 590, 605 and 648 | 605 | Not used |
| Two borrowers: 590, 605, 648 and 661, 693, 693 | 605 | 649 |
| Two borrowers: 590, 605 and 661, 693, 693 | 590 | 642 |
Try it with your own scores
Enter the scores you have, up to three for each of up to two borrowers. Nothing is saved or sent anywhere. The results apply the rules quoted on this page to your numbers and are a planning aid, not an approval.
| Fannie Mae price adjustment | Percent | On your loan |
|---|
FHA loans
The FHA program is run by the Federal Housing Administration, part of HUD, and insures loans made by approved lenders. The CFPB says its qualifying standards are generally more flexible than for conventional loans, and that the insurance cost is passed on to the borrower (CFPB: What is an FHA loan?). HUD's handbook (Update 18, issued August 12, 2026) sets these credit-score rules for a purchase:
| Minimum decision credit score | What HUD's handbook says |
|---|---|
| 580 or above | Eligible for maximum financing: a loan of up to 96.5% of the adjusted value, with a minimum required investment of at least 3.5%. Manual underwriting can allow higher ratios, up to 40/50 with compensating factors. |
| 500 to 579 | Limited to a maximum loan-to-value ratio of 90%, so a down payment of at least 10%. Manual underwriting ratios cannot exceed 31/43. |
| Below 500 | Not eligible for FHA-insured financing. |
Those ratios are the housing payment and total debt payments as a percent of effective income. HUD also lists, for borrowers with a score of 580 or above, tiers of 31/43, 37/47 and 40/40 or 40/50 that depend on compensating factors such as cash reserves. Use the house affordability calculator to see what your ratios would allow. Lenders may also set stricter minimums than HUD.
Conventional loans
A conventional loan is one that is not insured or guaranteed by a government agency. Many are sold to Fannie Mae, and its Selling Guide lays out the score rules (Fannie Mae Selling Guide B3-5.1-01):
- Manually underwritten loans: a minimum of 620 for fixed-rate loans and 640 for adjustable-rate loans. The exact requirement also depends on the loan-to-value ratio, loan purpose, number of units and debt-to-income ratio, in Fannie Mae's Eligibility Matrix.
- Loans run through Desktop Underwriter (DU): a minimum score is not required. DU weighs other risk factors, but lenders must still request scores from all three credit bureaus. A lender can still apply a minimum of its own.
- Loans with a low score are priced up. The Selling Guide says price adjustments are assessed on the representative credit score. The table below shows what they are.
What a lower score costs, in Fannie Mae's price adjustments
Fannie Mae's Loan-Level Price Adjustment Matrix (effective September 9, 2026) lists fees that Fannie Mae charges the lender, as a percent of the loan amount, for conventional purchase loans. They depend on the score and on the loan-to-value ratio, which is the loan divided by the home's value, so a 20% down payment is 80%, 10% down is 90% and 5% down is 95%. The table is the one for purchase loans with terms longer than 15 years, priced on classic FICO scores. FHA, VA and USDA loans are excluded from these adjustments, and other features such as a condo, a second home or an adjustable rate add more.
| Score | 20% down (80% LTV) | 10% down (90% LTV) | 5% down (95% LTV) |
|---|---|---|---|
| 780 and above | 0.375% | 0.250% | 0.250% |
| 760 to 779 | 0.625% | 0.500% | 0.500% |
| 740 to 759 | 0.875% | 0.750% | 0.625% |
| 720 to 739 | 1.250% | 1.000% | 0.875% |
| 700 to 719 | 1.375% | 1.250% | 1.125% |
| 680 to 699 | 1.750% | 1.500% | 1.375% |
| 660 to 679 | 1.875% | 1.750% | 1.625% |
| 640 to 659 | 2.250% | 2.000% | 1.875% |
| 639 and below | 2.750% | 2.625% | 2.250% |
To put a dollar figure on it, 1.000% of a $300,000 loan is $3,000. With 5% down, a borrower scoring 780 or above is charged 0.250% ($750), while one scoring 660 to 679 is charged 1.625% ($4,875) and one scoring 639 or below 2.250% ($6,750). Fannie Mae charges the adjustment to the lender, and how a lender passes it on, in the rate or in points, is up to the lender, so compare Loan Estimates (CFPB: How do I find the best loan available when I'm shopping for a home mortgage loan?). See are mortgage points worth it for how to weigh a rate against upfront cost. This table is one part of the price. Private mortgage insurance is another for smaller down payments, and the CFPB says other loan types can cost more or less than a conventional loan with PMI, depending on your credit score, your down payment, the lender and the market (CFPB: What is private mortgage insurance?).
VA loans
VA guarantees loans made by private lenders to eligible servicemembers, veterans and families. Its buyer's guide says VA does not require a minimum credit score, but that most lenders use a score to help decide your interest rate and that lenders may typically want a minimum of 620 unless there is a large down payment (VA Home Loan Guaranty Buyer's Guide (April 2022)). VA's website says you must meet credit, income and occupancy requirements from VA and from your lender, and that lenders may add standards such as a high enough credit score (VA: Home loan types). So VA's silence on the number does not mean every lender is flexible: shop several lenders that offer VA loans and ask each one. Note that the VA guide we read is the April 2022 edition.
USDA loans
USDA's guaranteed loan program offers 100% financing in eligible rural areas to low- and moderate-income buyers, through approved lenders (USDA Single Family Housing Guaranteed Loan Program). The credit chapter of its handbook, HB-1-3555 Chapter 10 (revised August 5, 2025), does not set a numeric minimum score. What it does say (USDA HB-1-3555, Chapter 10: Credit Analysis):
- Credit requirements can differ for loans run through the Guaranteed Underwriting System (GUS) and loans that are manually underwritten, and lenders may impose additional criteria or overlays.
- For GUS loans, GUS determines the acceptable credit score behind its Accept, Refer and Refer with Caution recommendations. For manually underwritten loans, one applicant whose income or assets are used must have a validated credit score, which needs two tradelines open for at least 12 months.
- Some items make an applicant ineligible: presently delinquent non-tax federal debt, certain presently delinquent court-ordered child support, and a Credit Alert Verification Reporting System (CAIVRS) result other than "A".
- A Chapter 7 bankruptcy discharged more than 36 months before submission is not considered adverse credit.
You may see 640 quoted as the USDA minimum. We did not find that number in this chapter, so treat it as a lender or system convention until your lender confirms it.
What to do before you apply
- Get your credit reports and check them for errors. Free copies are available at AnnualCreditReport.com, which the VA's buyer's guide and the CFPB both point to. Checking your own credit does not lower your score.
- Find out which scores lenders will see. If you apply for a mortgage and the lender uses your score, the CFPB says it will send you a notice with the score. Free "educational" scores can differ from lender scores, and the CFPB found a meaningful difference for one in four people (CFPB: Do I have to pay for my credit score?). A HUD-approved housing counseling agency can often provide a free report and score and help you review them.
- Compare where you land against the loan types above, and against the down payment you have. A score in one band may allow a smaller down payment (see how much down payment you need), and a score in a better band may lower your cost.
- Get Loan Estimates from at least three lenders. The CFPB says to request them and compare, and notes that a borrower with concerns about credit history or a small down payment may qualify for an FHA loan (CFPB: How do I find the best loan available when I'm shopping for a home mortgage loan?). Requesting them close together keeps the credit checks from piling up; see our pre-approval guide.
- Do not take on new credit before closing. The CFPB lists a change in your credit, for example because you took out a new loan or missed a payment, among the changes that let a lender revise your costs (CFPB: Can my final mortgage costs increase from what was on my Loan Estimate?), and it can delay your closing (see how long a mortgage takes to close).
- Read your Loan Estimate. It shows the rate and costs the lender priced from your score. Our Loan Estimate guide shows where to look, and the mortgage calculator turns a rate into a monthly payment.
Sources and review
FHA: HUD Handbook 4000.1 (FHA Single Family Housing Policy Handbook), Update 18 issued August 12, 2026 (sections on the minimum decision credit score, loan-to-value limits by score and manual underwriting ratios). HUD's site blocks automated downloads, so we read that update from a public web-archive copy of HUD's own PDF. Check HUD's site for anything newer. Conventional: Fannie Mae Selling Guide B3-5.1-01 and Fannie Mae Selling Guide B3-5.1-02 (both dated April 22, 2026), and the Fannie Mae Loan-Level Price Adjustment (LLPA) Matrix effective September 9, 2026. VA: VA Home Loan Guaranty Buyer's Guide (April 2022) and VA: Home loan types. USDA: USDA HB-1-3555, Chapter 10: Credit Analysis and USDA Single Family Housing Guaranteed Loan Program. Consumer guidance: CFPB: Do I have to pay for my credit score?, CFPB: What is private mortgage insurance?, CFPB: How do I find the best loan available when I'm shopping for a home mortgage loan?, CFPB: Can my final mortgage costs increase from what was on my Loan Estimate? and CFPB: What is an FHA loan?. We did not read Freddie Mac's guide, other lenders' overlays or credit union and portfolio loan rules, which can differ. State housing agency programs set their own minimums (our down payment assistance guide lists every state's agency); for California see our CalHFA guide and for Texas our TDHCA guide. Rules change, and your lender's requirements come first. Last reviewed September 2026. See our methodology. This is general information, not financial advice.