Your credit score matters when buying a home, but the number you see on your banking app may not tell the whole story. And recent changes in mortgage lending could make it worth taking another look at your options.
Have you ever checked your credit score, looked at the number, and decided buying a home just wasn't in the cards?
Maybe you heard you need a 700 credit score. Or 640. Or perhaps someone told you that anything below 620 means you can't get a mortgage.
Here's something you may not know: There isn't one credit score requirement that applies to every buyer, every lender, and every mortgage program.
And now, the way mortgage lenders evaluate credit is changing.
That doesn't mean everyone will suddenly qualify for a mortgage. But it does mean some people who have already counted themselves out may have more options than they realize.
First, there's no magic credit score that guarantees approval
For years, a 620 credit score was a common benchmark for many conventional mortgages.
But in November 2025, Fannie Mae removed its minimum 620 credit score requirement for loans evaluated through its automated underwriting system, Desktop Underwriter.
Instead of relying on that single cutoff, the system evaluates a broader picture of the borrower's credit risk.
That doesn't mean credit scores no longer matter. They absolutely do. And some loan programs, manually underwritten loans, and individual lenders still have minimum score requirements.
It simply means that a number by itself may not tell you whether you qualify.
Your income, existing debt, savings, payment history, and other financial details can all play a role.
The score on your phone may not be the score your mortgage lender uses
Here's where things get interesting.
You don't have just one credit score.
Different scoring models can produce different scores using information from your credit reports. Even scores calculated using the same model can differ depending on which credit bureau supplied the information and when the score was calculated.
For decades, conventional mortgage lending relied heavily on older versions of FICO credit scores.
Now, eligible loans sold to Fannie Mae and Freddie Mac may also use a newer model called VantageScore 4.0.
Another model, FICO 10T, has been approved for future use, although its rollout for these loans is still pending.
Why does that matter?
Newer scoring models can consider information differently, including payment patterns over time and certain rental payment information when it's available in the credit report.
For someone who has consistently paid rent and other obligations but has a limited traditional credit history, that could make a difference.
It won't help everyone, and it doesn't guarantee a higher score. But it gives lenders another way to evaluate some borrowers.
Your credit score is important, but it's only part of the picture
Let's say two people have the same credit score.
One has a steady income, manageable monthly debt, money saved, and a history of making payments on time.
The other has significant monthly debt, little savings, and recent late payments.
Even with the same score, their mortgage options may look very different.
That's because lenders aren't simply asking whether you have a certain number. They're evaluating whether you can reasonably manage the mortgage you're requesting.
And qualifying for a loan isn't quite the same as being comfortable with the monthly payment.
We believe both questions deserve attention.
What if your credit isn't where you'd like it to be?
You don't necessarily need to spend the next year trying to reach a number someone suggested before having a conversation with a lender.
A knowledgeable loan officer can help you understand where you stand today, which programs may fit your circumstances, and whether there are specific steps worth taking before applying.
Sometimes those steps are straightforward, such as correcting an error on a credit report or paying down a particular balance.
Other times, improving your financial position may take longer.
And sometimes the buyer discovers that their credit is already sufficient for a program they hadn't considered.
The important thing is to work from your actual financial situation instead of guessing.
A few good habits are worth following regardless of which scoring model a lender uses:
- Make payments on time.
- Keep credit card balances manageable.
- Review your credit reports for errors.
- Be cautious about opening new credit accounts before buying.
- Talk with your lender before making major financial changes.
And remember, the goal isn't simply to qualify for the largest mortgage available. It's to find a home and a payment that make sense for your life.
What does this mean for homebuyers in Northwest Metro Atlanta?
Whether you're looking in Cobb, Cherokee, Paulding, or Bartow County, the same basic advice applies.
Don't assume you're unable to buy a home because of a number on your phone or something you heard a few years ago.
And don't assume that qualifying for a mortgage means you're financially ready to purchase.
Those are two different questions, and both matter.
We regularly encourage people to explore the financial side of homeownership before they start seriously shopping for homes. That way, they can understand their options, set a comfortable budget, and avoid unnecessary surprises.
You may discover you're ready sooner than you thought.
You may discover that a few changes could put you in a stronger position.
Or you may decide that waiting is the better choice.
All three can be good outcomes when they're based on accurate information.
Start with a conversation, not an assumption
Credit scoring is changing, but one thing hasn't changed: Buying a home is too important a decision to make based on guesswork.
If you've been thinking about buying a home but aren't sure whether your credit or finances are ready, we'd be happy to help you understand the homebuying process and connect you with a qualified mortgage professional who can evaluate your options.
There's no obligation to buy, and no reason to begin looking at houses before you're comfortable with the financial side.
Sometimes the most valuable first step isn't finding a house.
It's finding out what's possible.
Text Team Haigh or call (770) 575-7339 to start the conversation.
Campbell & Beth Haigh | Team Haigh Realty