Can I buy a house with a 600 credit score?

Absolutely! You can buy a house with a 600 credit score, especially with government-backed mortgage options like FHA loans. However, you may face higher interest rates and additional mortgage insurance costs. It’s crucial to shop around for the best mortgage rates and terms to fit your financial situation.

What does a 600 credit score mean for a mortgage?

However, a credit score of 600 comes with certain financial implications, particularly when it comes to your mortgage rate. Generally, the lower your credit score, the higher the interest rate you’ll likely face. This means higher monthly payments and a larger total amount paid in interest over the life of the loan.

Are FHA loans a good option for a 600 credit score home loan?

FHA loans are usually the best option for a 600 credit score home loan. But if you’re considering one, it’s important to understand how mortgage insurance premiums add to the overall expense of your monthly mortgage payment. Verify your FHA loan eligibility. Start here