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.

$995,000

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.

$469,000

4 Bedrooms
3 Bathrooms
3,020 Sq Ft
0.606 Acres

329 Maplecrest Boulevard Jasper, Indiana

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Listing courtesy of Trae Dauby from Dauby Real Estate.

$417,500

3 Bedrooms
5 Bathrooms
3,404 Sq Ft
1 Acres

1100 N Bluegrass Lane Jasper, Indiana

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Listing courtesy of Kevin Bayer from RE/MAX Local.

$410,000

3 Bedrooms
3 Bathrooms
2,940 Sq Ft
2.530 Acres

634 E Wright Road Jasper, Indiana

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Listing courtesy of Stacey Hurst from RE/MAX REVOLUTION.

$400,000

4 Bedrooms
2 Bathrooms
3,490 Sq Ft
0.371 Acres

307 Newton Street Jasper, Indiana

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Listing courtesy of Tama Stemle from RE/MAX Local.

$336,000

3 Bedrooms
2 Bathrooms
1,502 Sq Ft
0.344 Acres

900 Juniper Court Jasper, Indiana

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Listing courtesy of Dara O'Neil from F.C. TUCKER EMGE.

$287,500

3 Bedrooms
3 Bathrooms
2,070 Sq Ft
0.399 Acres

1622 Sugar Pine Drive Jasper, Indiana

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Listing courtesy of Kathy Rowekamp from RE/MAX Local.

$282,999

3 Bedrooms
2 Bathrooms
1,461 Sq Ft
0.436 Acres

3845 N Portersville Road Jasper, Indiana

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Listing courtesy of Arlene Kluesner from F.C. TUCKER EMGE.

$259,700

3 Bedrooms
3 Bathrooms
2,248 Sq Ft
0.264 Acres

4517 Obing Strasse Street Jasper, Indiana

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Listing courtesy of Stacey Hurst from RE/MAX REVOLUTION.

$238,000

3 Bedrooms
2 Bathrooms
2,201 Sq Ft
0.357 Acres

2603 Brosmer Street Jasper, Indiana

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Listing courtesy of Stacey Thieman-Wright from THIEMAN REALTY.

$235,000

4 Bedrooms
3 Bathrooms
2,549 Sq Ft
0.124 Acres

612 W 8th Street Jasper, Indiana

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Listing courtesy of Dara O'Neil from F.C. TUCKER EMGE.

$219,000

2 Bedrooms
2 Bathrooms
1,266 Sq Ft

901-2 Reyling Drive Jasper, Indiana

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Listing courtesy of Kara Hinshaw from Key Associates Signature Realty.

$210,000

3 Bedrooms
2 Bathrooms
1,688 Sq Ft
0.600 Acres

468 Schuetter Road Jasper, Indiana

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Listing courtesy of Daniel Hoffman from HOFFMAN & MULLEN REALTY INC.

$208,000

2 Bedrooms
2 Bathrooms
1,800 Sq Ft
0.208 Acres

891 Giesler Road Jasper, Indiana

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Listing courtesy of Kevin Bayer from RE/MAX Local.

$198,500

3 Bedrooms
1 Bathrooms
1,086 Sq Ft
0.360 Acres

4862 N US 231 Highway Jasper, Indiana

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Listing courtesy of Kevin Bayer from RE/MAX Local.

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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