Many aspiring homebuyers aren’t sitting on the sidelines because they don’t want to buy — they’re waiting because they think they can’t. A big part of that hesitation comes from one belief: you need flawless credit to qualify for a mortgage. That misconception stops a lot of people from even asking what’s possible for them. Here’s why the myth doesn’t tell the whole story — and what you should do instead.

The idea that you must have “excellent” credit to buy is common: a Bankrate survey finds 42% of Americans believe you need top-tier credit to qualify for a mortgage. Add to that the fact that the median buyer today does have a high score — the NY Fed reports a median around 775 — and it’s easy to assume that number is the minimum.

But median doesn’t equal requirement. While many buyers have very strong scores, the data also show buyers are getting financed with lower scores: a portion of buyers have credit around 660, and some even lower. The takeaway: the typical buyer’s score reflects who’s actually buying today, not a universal cutoff that locks others out.

FICO and other underwriting authorities point out there’s no single score that every lender requires. Each lender has its own risk tolerance and decision rules, and they weigh other elements too — income, employment, debt levels, savings and overall financial profile matter a great deal. That means someone with a score in the 600s can still qualify for a mortgage under the right circumstances and with the right product.

In short: a less-than-perfect score is not an automatic disqualifier. It’s one input among many, and lenders have different programs and thresholds that may work for you.

The smartest next step is simple: have a conversation with a lender you trust. A lender can review your full financial picture and tell you what’s realistically available — including which loan programs suit your situation and what small changes might improve your eligibility. For many people, the path forward is practical: reduce a bit of debt, document steady income, or consider programs designed for buyers with lower scores.

Don’t let an assumed number keep you from exploring options. A surprising share of buyers buy with scores in the 600s — and you might be closer to qualifying than you think.

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Bottom line

Your credit score matters — but it doesn’t have to be perfect to buy a home. If you’ve been holding off because of credit concerns, a quick, no-pressure talk with a local lender can reveal real options and a clear next step. You don’t need everything figured out to start the conversation — start it today.

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