Ready to buy your first home? Your credit score is the key to unlocking mortgage approval and better rates. CreditRise helps first-time homebuyers remove inaccurate negative items so they can qualify for their dream home.
Different loan types have different credit score requirements. Understanding these thresholds is the first step to becoming mortgage-ready.
Government-backed
580+
for 3.5% down payment
10% down possible with scores as low as 500
Private lenders
620+
typical minimum requirement
740+ for best rates and terms
Veterans & service members
Varies
lender requirements differ
Many lenders approve scores as low as 580-620
These are minimum requirements. Individual lenders may set higher standards. A higher credit score not only helps you qualify — it can save you thousands of dollars in interest over the life of your loan.
When you apply for a mortgage, lenders scrutinize your credit report more closely than almost any other loan type. Negative items that might seem minor can become major roadblocks to homeownership.
Lenders view unpaid collections as financial risk. Many conventional lenders will not approve a mortgage with outstanding collections above a certain threshold. Even paid collections continue to negatively impact your score.
Collections can drop your score significantly and cause loan denial
A pattern of late payments signals irresponsible financial behavior to lenders. Even one recent 30-day late can raise red flags. Multiple lates in the past 12-24 months are especially damaging.
Recent lates can drop scores 60-100+ points
When a creditor writes off your debt as a loss, it's a serious negative mark. Charge-offs indicate significant financial distress and are viewed very unfavorably by mortgage lenders.
Charge-offs can stay on reports for 7 years
Using more than 30% of your available credit hurts your score. Mortgage lenders look at your utilization as a sign of how much debt you're carrying.
Keep utilization under 30% for best results
Under the Fair Credit Reporting Act (FCRA), you have the right to dispute any negative item that is inaccurate, incomplete, or unverifiable. If we can prove these items shouldn't be on your report, they can be removed — potentially raising your score enough to qualify for your mortgage.
Many first-time homebuyers don't realize their credit scores are holding them back from homeownership. By removing inaccurate negative items, we can often raise your score enough to qualify for better mortgage products with lower rates.
Better credit = better rates. A 740+ score vs. 620 score could save you $100,000+ over 30 years on a $400,000 mortgage.
Better rates mean lower monthly payments, making homeownership more affordable and sustainable.
Cleaner credit means smoother underwriting and fewer conditions from your lender.
With better credit, you may qualify for larger loans, opening up more neighborhoods and properties.
Do you have clients who are ready to buy but their credit is holding them back? Partner with CreditRise. We help your clients clean up their credit so deals can close.
Send us your pre-approved clients with credit issues. We handle the rest.
We coordinate with your clients and keep you updated on their progress.
When clients are credit-ready, transactions close faster and more reliably.
Interested in becoming a referral partner?
Contact Us to PartnerYou only pay for results. We're invested in helping you qualify for your mortgage.
Performance-based pricing
Complete review of your Equifax, Experian, and TransUnion reports
FCRA-compliant letters filed to credit bureaus and creditors
We track results and continue working on remaining items
You only pay when items are successfully removed
No obligation • Free consultation • FCRA & CROA compliant
Our Guarantee
No results = No fee
You only pay when negative items are actually removed from your credit reports.
Schedule your free consultation today. We'll review your credit reports, identify disputable items, and create a personalized strategy to help you qualify for your dream home.
Free Credit Review
Full 3-bureau analysis
Identify Issues
Find disputable items
Custom Strategy
Personalized action plan