You Don’t Need Perfect Credit to Get a Mortgage—Here’s Why

You Don’t Need Perfect Credit to Get a Mortgage—Here’s Why

If you've been holding off on buying a home because your credit score isn’t perfect, you're not alone—and you’re definitely not out of options. One of the biggest myths I hear as a mortgage lender is this: “I’ll never get approved with my credit.” That couldn’t be further from the truth.

At Nova Home Loans, we work with real people—not credit robots. Life happens. Maybe you've had a late payment, an unexpected medical bill, or a period of transition. The good news? You can still qualify for a home loan—and often with competitive terms.

How Low Is Too Low? Let’s Talk Numbers.

While a “perfect” credit score is 850, most lenders don’t expect you to be anywhere near that. In fact:

• FHA loans accept credit scores as low as 580, and sometimes even 500 with a larger down payment.
• VA loans don’t have a strict minimum score, though most lenders prefer 580–620+.
• Conventional loans generally start at 620, but pricing adjustments are made based on score tiers—not just yes or no.

So no—you don’t need a 740+ score to own a home. You just need to work with someone who knows how to align the right program with your unique financial picture.

Other Factors Matter Too—A Lot

Credit is just one part of your loan approval. We also look at:

• Your income and employment stability
• Debt-to-income ratio (DTI)
• How much you’ve saved for a down payment or closing costs
• The type of loan you’re applying for (FHA, VA, Conventional, etc.)

I’ve worked with plenty of clients who didn’t think they could qualify—until we dug into the numbers and found a path forward.

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