Direct answer: Typical minimums — conventional 620, FHA 580 (500
with 10% down), VA no official floor (lenders often want ~580–620), USDA ~640,
jumbo 700+. But the minimum isn't the story: pricing tiers are. Moving
from ~640 to 760+ improves conventional rates by roughly 0.5–0.75%, worth about
$140/month ($50,355 over 30 years) on a $350,000 loan.
Minimums by program — and what they really mean
- Conventional (620+): credit-priced throughout; PMI cost also scales with score, doubling the penalty for low tiers. Great credit's natural home.
- FHA (580+, or 500 w/ 10% down): insurance is NOT credit-priced — the same MIP at any score — which is exactly why FHA often wins below ~660–680 (see MIP vs PMI).
- VA (lender overlays ~580–620): the most forgiving pricing for mid scores, no monthly insurance (calculator).
- USDA (~640): zero-down rural program with income/location limits.
- Jumbo (700–740+): above conforming limits, lenders self-insure — expect stricter everything.
Mortgage scores aren't your app's score
Lenders pull tri-bureau mortgage-model FICOs and historically use the middle score (lowest-middle across co-borrowers). These often run lower than the educational score your bank app shows. Two implications: check real FICOs before rate-shopping, and know that all mortgage inquiries within a single ~45-day window count as one — shop lenders aggressively, guilt-free.
The 90-day pre-application playbook
- Utilization first: pay card balances toward <10% of limits before statements cut — the fastest score lever there is (see why balances suppress scores).
- No new accounts and no closing old ones — age and mix matter.
- Dispute real errors at all three bureaus; a stray collection can cost a tier.
- Then get quoted — and if you're near a tier boundary (679 vs 680, 739 vs 740), a one-month delay to cross it can pay thousands.
Pricing your own tier
Get two or three real quotes, then put the rates into the mortgage calculator to see the tier difference in dollars — and into the affordability calculator to see it in house price. Score work is unglamorous, but it's the only part of the rate you fully control.