: For FHA and conventional loans with low down payments, your credit score can influence the cost of your Private Mortgage Insurance (PMI).

Following the tighter credit restrictions after the 2008 financial crisis, 2017 saw a slight loosening of credit standards. However, the average credit score for closed mortgages remained high, often averaging above , as lenders remained cautious and prioritized "prime" borrowers.

Your credit score doesn't just determine if you can get a loan; it determines how much that loan will cost you over 30 years.

In 2017, the minimum credit score required to buy a house generally depends on the type of mortgage loan you are seeking, but most lenders look for a score of at least for conventional loans . Minimum Credit Scores by Loan Type in 2017

: You may still qualify, but you are typically required to provide a 10% down payment. Conventional Loans (Fannie Mae and Freddie Mac) :