A three-digit number (300–850) that measures your creditworthiness based on payment history, debt levels, and credit history length.
Full Definition
Mortgage lenders use credit scores to assess the risk of lending to a borrower. The most widely used model is FICO, which scores from 300–850. For mortgage purposes, lenders typically pull all three bureau scores (Equifax, Experian, TransUnion) and use the middle score. Conventional loans generally require a minimum score of 620; FHA allows as low as 580 with 3.5% down; VA and USDA have no official minimum but most lenders require 620+. A higher score translates to better rates — a 760+ score typically qualifies for the best available rates. The five factors affecting your FICO score are payment history (35%), amounts owed (30%), length of credit history (15%), new credit (10%), and credit mix (10%).
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