Do I need 20% down to buy in Southern Maryland?

Not necessarily. Many buyers use less down and still make competitive offers with the right loan structure and a strong plan.

How much house can I afford if I’m approved for more?

Affordability should be based on payment comfort, reserves, and lifestyle—not the maximum approval. We choose the payment first, then set the price range.

What costs do buyers forget to plan for?

Taxes and insurance changes, HOA/condo fees, moving costs, repairs, and the first-year maintenance buffer.

Can you help me set a price range quickly?

Yes. With a few basics (income, debts, down payment, and target comfort), we can map a safe range and next steps fast.

← Back to Resources

What Credit Score Do You Need to Buy a Home?

Credit is important, but it’s not just the score. Lenders also look at the story behind the score — history, balances, and recent behavior.

Typical score ranges by loan type

Conventional: often 620+ (higher scores usually improve pricing)
FHA: can be more flexible, especially with strong compensating factors
VA/USDA: guidelines vary by lender; the full profile matters

What matters beyond the score

Late payments (especially recent)
Credit utilization (balances vs limits)
Collections/charge-offs (type and timing)
Number of accounts and depth of history

Example scenario

Example: Two buyers both have a 680 score. One has low balances and clean history. The other has maxed cards and recent lates. Same score — very different approval strength.

Guidance

If you want the fastest improvement:

Quick explanation from Steve

Video coming soon. (No empty player box—this placeholder will be replaced once recorded.)

Next step

If you want a clear plan (not generic advice), start with the Homebuyer Planning Survey so I can tailor guidance to your goals and timeline.

Start the Homebuyer Planning Survey

If a question comes up while you’re reading, ask Steve247 using the chat in the corner of the page.

FAQ

Can I buy a home with a 620 score?

Often yes on conventional, depending on the full profile and loan structure. FHA can also be an option for some buyers.

Should I pay off collections before applying?

Sometimes yes, sometimes no. The right move depends on the loan type and how the collection impacts your score and approval.

Will checking my credit hurt my score?

A mortgage credit pull is a hard inquiry, but the impact is typically modest and often outweighed by the benefits of a clear plan.

About Steve Combs

Steve Combs is a mortgage strategist focused on helping buyers and homeowners make clear, confident mortgage decisions across Southern Maryland, Washington DC, Northern Virginia, and the Annapolis / Anne Arundel area. He is registered to lend in 46 states and the District of Columbia and has been quoted in The Washington Post. The goal of this site is simple: make mortgage decisions feel clear—not overwhelming.