What Homebuyers Need To Know About Credit Scores
KCM Crew • December 13, 2024
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.
Thanks to recent home price appreciation, homeowners have near record amounts of equity – and you may too. On average, homeowners have $311K worth of equity.
Talk about the economy is all over the news, and the odds of a recession are rising this year.
For a long time, the housing market was all sunshine for sellers.
