How Good Does Your Credit Need to Be to Buy a Home? |

If you’re thinking about buying a home, you know that your credit score has a direct impact on your mortgage. But how good does it need to be?

How Good Does Your Credit Need to Be to Buy a Home?

Having a high credit score certainly helps you get approved for a mortgage loan. However, that doesn’t mean your score needs to be perfect. In fact, you can be pre-approved for a mortgage loan with a credit score in the 600s – though your interest rates will certainly reflect your score.

$1,200,000

5 Bedrooms
6 Bathrooms
5,748 Sq Ft
8.870 Acres

1700 N Newton St. Jasper, Indiana

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Listing courtesy of Larry Carpenter III from Carpenter Realty LLC.

$596,000

4 Bedrooms
4 Bathrooms
5,029 Sq Ft
2.295 Acres

515 N Weisheit Drive W Jasper, Indiana

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Listing courtesy of Stacey Thieman-Wright from THIEMAN REALTY.

$469,000

4 Bedrooms
5 Bathrooms
3,849 Sq Ft
0.557 Acres

4288 W Anya Court Jasper, Indiana

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Listing courtesy of Linda Schroering from CENTURY 21 SCHROERING REALTY.

$425,000

6 Bedrooms
4 Bathrooms
3,780 Sq Ft
0.570 Acres

4807 Killarney Court Jasper, Indiana

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Listing courtesy of Jake Mauntel from American Dream Mauntel Realty.

$400,000

4 Bedrooms
2 Bathrooms
3,490 Sq Ft
0.353 Acres

307 Newton Street Jasper, Indiana

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Listing courtesy of Tama Stemle from RE/MAX Local.

$279,900

3 Bedrooms
5 Bathrooms
2,867 Sq Ft
0.800 Acres

4180 Timberpoint Court Jasper, Indiana

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Listing courtesy of Melody Faulk from RE/MAX Local.

$274,900

3 Bedrooms
2 Bathrooms
1,365 Sq Ft
0.490 Acres

1443 Dexter Court Jasper, Indiana

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Listing courtesy of Adam Boyd from BOYD REALTY & DEVELOPMENT LLC.

$244,900

3 Bedrooms
3 Bathrooms
2,564 Sq Ft
0.440 Acres

3422 Lakeside Dr Drive Jasper, Indiana

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Listing courtesy of Diana Feuerbach from Key Associates of Rockport IN.

$237,000

4 Bedrooms
3 Bathrooms
2,577 Sq Ft
0.900 Acres

1486 3rd Avenue Jasper, Indiana

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Listing courtesy of Steve Lukemeyer from F.C. TUCKER EMGE.

$219,000

4 Bedrooms
2 Bathrooms
2,100 Sq Ft
0.110 Acres

214 W 9th Street Jasper, Indiana

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Listing courtesy of Ruger Kerstiens from F.C. TUCKER EMGE.

$199,900

2 Bedrooms
2 Bathrooms
1,266 Sq Ft

903-3 Reyling Drive Jasper, Indiana

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Listing courtesy of Kara Hinshaw from Key Associates Signature Realty.

$199,500

4 Bedrooms
2 Bathrooms
2,280 Sq Ft
0.130 Acres

610 E Fourteenth Street Jasper, Indiana

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Listing courtesy of Ryan Craig from RE/MAX Local.

$197,000

2 Bedrooms
3 Bathrooms
2,568 Sq Ft
0.190 Acres

1031 DORBETT Street Jasper, Indiana

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Listing courtesy of Connie Thewes from HOFFMAN & MULLEN REALTY INC.

$195,000

3 Bedrooms
2 Bathrooms
2,440 Sq Ft
0.920 Acres

1766 W State Road 56 Highway Jasper, Indiana

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Listing courtesy of Linda Schroering from CENTURY 21 SCHROERING REALTY.

$189,000

2 Bedrooms
1 Bathrooms
1,146 Sq Ft
1.130 Acres

6142 N Old Rd. 45 Jasper, Indiana

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Listing courtesy of Larry Carpenter III from Carpenter Realty LLC.

Higher Interest for Lower Scores

Generally, the lower your credit score is, the higher your interest rate will be. It’s worth trying to work on your credit, even if you can only make a small improvement, before you apply for a mortgage. That’s because over time, your interest rate dictates exactly how much you’ll pay for a home.

What About Points?

If you’re able to save a little extra cash (in addition to your down payment), it may be worth it for you to purchase discount points. Points are one way to lower your interest rate, which can save you money in the long run.

Are You Thinking of Buying a Home in Dubois County?

Use our site to search homes for sale in Jasper, Dubois, Spencer, Martin and Davis counties, as well as all the surrounding communities. Unlike the “big name” sites out there, at Sell 4 Free Welsh Realty, our site is directly connected to our local MLS. We update it with new homes every hour.

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