Resources · My Mortgage Company
Credit Scores & Mortgage Loans
Your credit score determines which loan programs you qualify for and what interest rate you will receive. Here is what you need to know — and how to improve your score before applying.
Check Your OptionsMinimum Credit Scores by Loan Program
Scores shown are representative lender minimums and examples only — not a guarantee of qualification. Actual eligibility depends on your full financial profile, debt-to-income ratio, employment history, and other factors. Individual results vary. Consult your loan officer for a complete assessment.
FHA
580 min3.5% down. 500–579 may qualify with 10% down.
VA
580+ minVA has no official minimum. Lender minimum typically 580. No down payment.
USDA
640 minRecommended minimum. 0% down for eligible rural areas.
Conventional
620 minMinimum. 740+ for best rates and no PMI surprises.
Jumbo
700 min720+ preferred for best rates on loans above $766,550.
Bank Statement
620 minNon-QM program for self-employed. 660+ preferred.
Credit Score Tiers Explained
You will qualify for the best rates on all programs. Lenders compete for your business.
Strong rates across the board. Conventional with no PMI surprises. Jumbo-friendly.
Good rates on most programs. Conventional is accessible; some rate add-ons may apply.
FHA is your strongest option. Some conventional programs available. Rate premiums increase.
FHA is the primary option (3.5% down). VA is available if you qualify. Conventional is difficult.
FHA with 10% down may be possible (500–579). Most programs require improvement. Let's build a plan.
How to Improve Your Credit Score
These strategies can produce meaningful score improvements in 30–90 days.
Pay bills on time — always
Payment history is 35% of your FICO score. A single 30-day late payment can drop your score 50–100+ points. Set up autopay.
Reduce credit card balances
Credit utilization (balance ÷ limit) is 30% of your score. Keep individual cards below 30% and total utilization below 10% for maximum impact.
Do not open new accounts
Each new application creates a hard inquiry (small, temporary score drop). Avoid new credit for 6–12 months before applying for a mortgage.
Keep old accounts open
Length of credit history (15%) benefits from older accounts. Do not close your oldest credit cards — even if you do not use them.
Dispute errors on your report
Pull your free reports at AnnualCreditReport.com. Dispute any errors with the bureau in writing. Errors are more common than most people realize.
Become an authorized user
A family member or spouse can add you as an authorized user on a long-standing, low-balance account — boosting your average account age and utilization.
Do Not Let Your Score Stop You From Asking
Even if your score is below the minimums above, it is worth having a conversation. Omar works with borrowers at every stage — including those actively building credit toward homeownership. A quick credit analysis will show you exactly where you stand and what moves will have the biggest impact before you apply.
Ready to Find Out Where You Stand?
Omar will run a soft credit analysis and tell you exactly which programs you qualify for — no hard pull, no commitment.
My Mortgage Company, Inc. · CA DRE #02168831 · NMLS #2269164. Credit score minimums shown are lender minimums and may differ from program-level minimums. Individual results vary. Credit improvement timelines depend on specific credit history factors. This is not financial advice. This is not a commitment to lend.