2 Responses to “what credit score is needed to purchase a home in illinois?”

1. Gaytheist Buddha says:

   December 5, 2011 at 7:09 pm

   With most banks you need a minimum credit score of 620 to qualify for a mortgage. Expect to pay about 3 points (or 3%) to get a loan. With a credit score 720 and above you get the best rates.
2. Bedford S says:

   December 5, 2011 at 8:01 pm

   The higher the better. FHA requires 580 but lending institutions are allowed to require higher. Also with lower scores interest rates are higher. Mortgages can be had at 650 with high interest, but to get a great interest rate one would need about a fico score of 750.