What is a good credit score?

What is considered a good credit score

A good credit score is not the only item in question when buying a home, but it is a major one. So, what is a good credit score? Generally, a FICO credit score of 700 is considered good.

The national average credit score has been slowly growing since the 2008 recession. In 2018 the average credit score was 704, the highest it’s ever been.

A perfect credit score is 850, but conventional loans usually accept a credit score of 620 and up, while FHA allows scores as low as 580. However, just because your score may be below that level, don’t throw in the towel.  Meeting with a mortgage professional is an excellent way to learn ways to boost your score.  They can provide you with guidance and put you on the path to homeownership.

Some ways to improve your credit score:

Butler Mortgage has worked with both first-time and seasoned home buyers for 25 years. Our loan officers do everything they can to make the mortgage process as painless as possible, so you can spend less time worrying, and more time enjoying your home. Call us today at 407-931-3800 with any questions.

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