 TITLE: How to Shop for a Mortgage CONTENT: Check Your Credit Score and Report\n----------------------------------\nWhen you apply for a mortgage, lenders review your FICO® Scores☉ and the information in your credit reports, often from all three of the national credit bureaus: Experian, TransUnion and Equifax. For single borrowers, the lender typically orders scores from lowest to highest and uses the middle score to assess eligibility for a mortgage loan. To illustrate, if you have scores of 620, 650 and 690, the lender will typically use 650 to make a lending decision. When two people are getting a mortgage together, the lender looks at the lower middle score of the two.\nHere are the general credit score guidelines by loan type:\n*   **Conventional loans**: FICO® Score of 620 or higher\n*   **FHA loans**: FICO® Score of at least 580 (or 10% down payment for a FICO® Score as low as 500)\n*   **VA loans**: FICO® Score of 620 or higher\n*   **USDA loans**: FICO® Score of 640 or higher\nKnowing where your credit stands before you move forward can help you set realistic expectations. If you find your credit scores aren't as high enough to qualify you for a mortgage, you might take the time to improve your score to give yourself the best chance of getting approved.\nYou can get your credit ready for a mortgage by continuing to pay your bills on time, paying down your credit card balances and avoiding new credit applications. END