What credit score do I need for a conventional loan?
620 is a common minimum for many conforming conventional loans, but approval and pricing depend on the full file, automated underwriting, lender overlays, credit history, LTV, and occupancy. 740+ typically unlocks the strongest rate and PMI tiers. Below 620, conforming options narrow quickly.
What this actually means.
Fannie Mae and Freddie Mac generally require a 620 minimum for conforming conventional. The lender's automated underwriting (DU or LP) checks the 'lower middle FICO' across all borrowers. Below 620, conforming usually doesn't work — alternatives are FHA (down to 580 with most lenders) or non-QM. Above 620, every 20-point improvement (660, 680, 700, 720, 740, 760) typically nets better pricing through LLPAs and lower PMI. Subject to lender overlays.
What this looks like on a real file.
Where this can move.
Recent late payments, thin credit history, disputed accounts, lender overlays, and AUS findings can change the answer.
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More conventional questions on Credit.
Educational only. Conventional loan guidelines, lender overlays, rates, fees, PMI, LLPAs, and underwriting requirements can change. Final eligibility depends on full underwriting review. Mortgage Expert, Inc. is not affiliated with Fannie Mae, Freddie Mac, FHFA, or any government agency.