In this Article...
Navigating the homebuying process in Chicago can be complex, particularly when it comes to understanding credit scores. Prospective buyers often don't know the minimum credit score needed, which varies by lender and loan type. Harty Realty Group can guide you through these nuances, ensuring informed decisions.
What Homebuyers Need To Know About Credit Scores
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.
