There's no single credit score you need to buy a house in Las Vegas. Each loan program sets its own minimum, and lenders can set higher ones. As a rule of thumb, many buyers can qualify with a score in the 580 to 620 range, but a higher score usually means a lower interest rate and a lower monthly payment.
Minimum credit scores by loan type
These are common minimums. Individual lenders often require more.
- FHA loans: 580 or higher for the 3.5% minimum down payment. Scores from 500 to 579 may qualify with 10% down.
- VA loans: The VA doesn't set a minimum, but most lenders look for about 580 to 620.
- Conventional loans: Usually 620 or higher.
- Jumbo loans: Often 700 or higher, because the loan amounts are larger.
Why a higher score still matters
Qualifying is only the first step. Your credit score also affects the interest rate you're offered, and even a small difference in rate can add up to thousands of dollars over the life of a 30-year mortgage. Buyers with scores in the "good" to "very good" range generally see the best pricing.
What mortgage lenders look at on your credit report
Lenders review all three of your Experian, Equifax and TransUnion reports. Beyond the score itself, they pay close attention to:
- Recent late payments, especially on rent, car loans or past mortgages
- Collection accounts and charge-offs, including whether balances are still reporting
- Repossessions, bankruptcies and other public records
- Your credit utilization and the number of recent hard inquiries
How to get mortgage-ready
- Check all three credit reports. Get free copies at annualcreditreport.com and look for credit report errors.
- Dispute anything inaccurate. You have the right to dispute information that's wrong, outdated or unverifiable. Learn how to dispute credit report inaccuracies.
- Pay every bill on time. Payment history is the biggest part of your score.
- Lower your card balances. Keeping utilization under 30% can help your score quickly.
- Hold off on new credit. Avoid opening new accounts or financing big purchases while you're shopping for a home.
The bottom line
Many Las Vegas home buyers can qualify for a mortgage with a score in the 580 to 620 range, but every point above that can save you money. If inaccurate collections, charge-offs or late payments are standing between you and a pre-approval, book a free consultation with our Las Vegas credit repair team. We work closely with local mortgage brokers and loan officers, so you'll know where you stand before you apply.
