Credit Scores: What’s Involved in Calculating and Improving Your Credit

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Editor’s note: Lantern by SoFi seeks to provide content that is objective, independent and accurate. Writers are separate from our business operation and do not receive direct compensation from advertisers or partners. Read more about our Editorial Guidelines and How We Make Money.
Where Do You Stand?
300-579 = very poor 580-669 = fair 670-739 = good 740-799 = very good 800-850 = exceptional
6 Tips to Help You Manage Your Credit Your Credit Score
1. Check the Accuracy of Your Credit Reports
2. Prioritize Bill Payments
3. Pay Down Credit Balances
4. Don’t Open or Close Credit Accounts
5. Pay with Cash or a Debit Card
6. Keep Track of Credit Inquiries
What Credit Score Do You Need to Buy a House?
Typical Minimum Credit Score by Mortgage Loan Type
Conventional loans typically require a minimum of 620-660 or higher Jumbo loans typically require 700 or higher FHA loans require 500 with a 10% down payment and 580 if you put up 3.5% VA loans (insured by the U.S. Department of Veterans Affairs) typically require 620 or higher USDA loans (backed by the U.S. Department of Agriculture) typically require a minimum of 580
Can You Get a Personal Loan With Bad Credit?
Can You Get a Business Loan with Bad Credit?
The Takeaway
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About the Author
Sheryl Nance-Nash is a freelance writer specializing in personal finance, business, and travel. Her work has appeared in Money Magazine, Newsday, The New York Times, Business Insider, BBC.com, AARP the Magazine, ABCNews.com, Forbes.com, among others.
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