Lenders used different benchmarks depending on the specific mortgage program:

: Lenders generally looked for at least a 640 for automated approval, though manual underwriting was sometimes possible for lower scores.

: Most required a minimum of 620 . Only about 4% of approved conventional borrowers in early 2017 had scores below 650. FHA Loans : These offered the most flexibility: 580 for a 3.5% down payment. 500 if the borrower could provide a 10% down payment.

In 2017, your credit score directly dictated your interest rate (APR). For a 30-year fixed mortgage, the average differences were stark: : ~3.87% APR 700–759 : ~4.09% APR 620–639 : ~5.46% APR Comparing FHA Credit Score Requirements to Other Mortgages