The score that matters depends on what you're trying to do

There is no single "best" credit score — what matters is whether your score meets the requirement for the specific thing you're applying for. A landlord might rent to you at 620, a mortgage lender might require 640, and a credit card company might want 700. The range that works for housing is usually between 580 and 740, depending on the lender type and loan program.

Your credit score is a three-digit number (typically 300 to 850) that lenders use to predict whether you'll repay borrowed money. The higher your score, the lower the risk you appear to be. But "lower risk" doesn't mean "required" — it means you'll get better terms, lower interest rates, or approval when someone with a lower score would be denied.

Key Takeaways

  • Mortgage lenders typically want scores of 620 to 740 depending on the loan type, with FHA loans accepting lower scores than conventional mortgages.
  • Rental landlords often look for scores of 650 or higher, though some will rent to people with scores as low as 580 if other factors are strong.
  • The score that matters is the one the lender or landlord actually checks — usually your FICO score, though some use VantageScore or other models.
  • A score above 740 typically gets you the best interest rates and terms, but you don't need that high for most housing decisions.
  • Your score changes monthly as your payment history, debt levels, and credit mix shift, so a low score today doesn't lock you out permanently.

What different lenders actually require for mortgages

Conventional mortgages — loans sold to Fannie Mae or Freddie Mac — usually require a minimum score of 620, though lenders often prefer 640 or higher. If your score is below 680, you'll typically pay a higher interest rate and may need a larger down payment. Scores above 740 get the best rates available.

FHA loans (Federal Housing Administration) accept scores as low as 580 with a 10 percent down payment, or 500 with 10 percent down at some lenders, making them an option when your score is too low for a conventional loan. The tradeoff is that FHA loans require mortgage insurance, which adds to your monthly payment.

VA loans (for military members and veterans) have no official minimum score, though most lenders want 620 or higher. USDA loans for rural properties also typically want 620 minimum. If your score is below what a lender states, ask whether they have manual underwriting — some will review your full financial picture instead of relying only on the number.

What landlords look for when screening tenants

Rental landlords and property management companies often use credit scores as one screening tool, though the score itself is only part of the decision. A landlord might reject someone with a 700 score if they have recent evictions, or accept someone with a 600 score if their payment history is clean and income is stable.

Most landlords want to see a score of 650 or higher, but many will rent to people with scores between 580 and 649 if other factors are strong — steady employment, references from previous landlords, or a co-signer. Some landlords don't check credit at all and rely instead on income verification, background checks, or references.

If your score is below 600, be prepared to explain why. Bring documentation of what caused the damage (job loss, medical debt, identity theft) and show what you've done since then. A co-signer with a higher score can also help you get approved.

How your score is calculated and why it changes

Your FICO score (the most common model) is built from five factors: payment history (35 percent), amounts owed (30 percent), length of credit history (15 percent), credit mix (10 percent), and new credit inquiries (10 percent). This means paying bills on time matters most, followed by keeping your credit card balances low relative to your limits.

Your score updates monthly as creditors report new information to the credit bureaus. If you pay down a credit card, your score can rise within weeks. If you miss a payment, it can drop significantly. A single late payment can stay on your report for seven years, but its impact weakens over time — a late payment from five years ago hurts less than one from last month.

You have three credit scores (one from each bureau: Equifax, Experian, and TransUnion) because each bureau may have slightly different information about you. Lenders might check one, two, or all three. If you're applying for a mortgage, the lender typically uses the middle score of the three.

The difference between a "good" score and a "best" score

Scores of 670 to 739 are generally considered "good" — you'll be approved for most mortgages and rentals, though you may not get the absolute lowest interest rate. Scores of 740 and above are "very good" or "excellent" — you'll get the best rates available and approval is nearly certain.

The jump from 620 to 680 makes a real difference in your mortgage rate and approval odds. The jump from 700 to 750 makes a smaller difference — you're already in the "approved" zone, and the rate improvement is modest. For housing purposes, 680 to 720 is the practical sweet spot where you're approved and getting reasonable terms.

If your score is below 620, focus on paying bills on time for the next few months and paying down credit card balances. Even small improvements can move you into a range where more lenders will work with you.

What to do if your score is lower than what you need

If you're applying for a mortgage and your score is below the lender's minimum, ask whether they offer manual underwriting. This means a person reviews your full financial picture — your income, employment history, savings, and reasons for past problems — instead of relying only on the score. Some lenders will approve you this way even if the automated system would reject you.

For rentals, if your score is below what the landlord wants, offer a larger security deposit, provide references from previous landlords, or find a co-signer. Some landlords will negotiate if you show stable income and explain what caused credit problems.

If you believe your score is wrong because of errors on your credit report, you can request a free copy from AnnualCreditReport.com and dispute inaccuracies with the bureau. Errors are more common than most people realize, and removing them can raise your score significantly.

How different credit scoring models affect your number

FICO is the most widely used model for mortgages and rentals, but VantageScore, Experian Plus, and other models exist. Your FICO score and your VantageScore can differ by 50 points or more because they weight the same information differently. When a lender says they need a 620 score, they almost always mean FICO unless they specify otherwise.

Credit monitoring services and apps often show you a VantageScore or educational score, not your actual FICO score. These are useful for tracking trends, but they're not what lenders see. Before you apply for a mortgage or rental, check your actual FICO score through your lender, your bank, or a service that provides it (some credit card companies offer it free).

Frequently Asked Questions

Is 700 a good credit score for getting a mortgage?

Yes. A 700 score will get you approved for most mortgages and a competitive interest rate. You don't need a higher score to be approved, though scores above 740 may get you slightly better terms. Focus on whether 700 meets your lender's specific requirement rather than chasing a higher number.

Can I rent an apartment with a 600 credit score?

Many landlords will rent to you at 600, especially if your income is stable and you have good references from previous landlords. Some landlords want 650 or higher, so you may need to apply to multiple properties or offer a larger security deposit to improve your chances.

How long does it take to raise my credit score?

Small improvements (20 to 50 points) can happen within weeks if you pay down credit card balances or catch up on late payments. Larger improvements take months or years because negative items stay on your report for seven years. Consistent on-time payments are the fastest way to build score over time.

Does checking my own credit score hurt it?

No. Checking your own score is a "soft inquiry" and doesn't affect your number. Only hard inquiries (when a lender checks your score because you applied for credit) can lower your score slightly, and the impact is temporary.

What if different bureaus report different scores?

It's normal for your three scores to differ by 10 to 50 points because each bureau may have different information about you. For mortgages, lenders typically use the middle score of the three. If one bureau has errors, dispute them with that bureau directly through their website.