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Do I Need Perfect Credit to Buy a Home?

Your credit history determines what loans you will qualify for and the interest rate you will pay. Lenders get your credit history by obtaining your credit score.

A credit score provides an easy way for lenders to numerically judge your credit at a point in time. It shows them how likely you are to repay your loan in a timely manner. The better your history appears, the more attractive you become as a loan customer.

  • Better credit scores lead to better rates
  • Lower scores do not automatically disqualify you
  • As your credit information changes, your score changes
  • Any changes such as new credit can also lower your score

Do I need perfect credit?


Absolutely not. Lenders aren’t looking for consumers with “perfect credit.” If you feel you’re ready for home ownership, you may be continuing to rent unnecessarily instead of building equity in the home of your dreams. And the longer you put off buying a home, the longer it will take to build equity. It’s easy to apply for a loan. I can recommend my preferred loan officers to you who are aimed specifically at first-time homebuyers.

How can I improve my credit score?


Some people need outside help, others don’t. Here are a few things you can do:

  • Cut back on unnecessary expenses
  • Apply the savings to pay off debts
  • Pay off and close multiple credit card accounts

Paying off your debts will generally improve your score within a few months. Keep this goal in mind and work toward it diligently.

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