A 580 credit score can be enough to buy a home with FHA financing. A 620 score commonly opens conventional financing. VA financing can reach borrowers down to a 500 FICO score. That is the straight answer to what credit score for mortgage approval – but the number on its own does not tell you which payment, down payment, or rate is available.
When I work with buyers around Short Pump, Glen Allen, and the Richmond West End, I start with a NoTouch Credit Pull. It is a soft pull pre-approval that lets us see the mortgage picture before you commit to a hard inquiry. There is no credit hit, and no hard inquiry, so you can get real direction without damaging the score you are trying to protect.
What Credit Score for Mortgage Programs?
Mortgage programs have score floors, but the best option is not always the program with the lowest possible score requirement. Down payment, monthly mortgage insurance, debt-to-income ratio, property type, and the details of your credit history all affect the decision.
FHA: 580 FICO for 3.5% Down
FHA is the leading choice for many first-time buyers because a 580 FICO score can qualify for 3.5% down. It is often a strong fit for a buyer who has steady income and manageable monthly debt but has not built a 700-plus score yet.
For a $525,000 Short Pump-area purchase, 3.5% down is $18,375 before closing costs and prepaid items. That is still real money, which is why eligible buyers often ask about Dynamo DPA or Turbo DPA. The right assistance structure can change the cash needed at closing, although it can also affect pricing or payment. We run the math before presenting it as an answer.
FHA underwriting also looks past the score. A borrower with a 585 score, clean recent payment history, and enough income can be in a better position than someone with a 640 score and recent late payments. The score gets attention. The full credit profile gets the approval.
VA: Available Down to a 500 FICO Score
Eligible veterans, active-duty service members, and surviving spouses have one of the strongest paths to homeownership through VA financing. Coast2Coast Mortgage can review VA options down to a 500 FICO score, subject to the complete file and program guidelines.
VA financing may require no down payment, which is especially meaningful in Henrico County, where homes near Deep Run High School, West Broad Village, and Green Gate can command substantial prices. A lower score does not automatically mean a poor VA option. It means the file needs a careful review of income, liabilities, repayment history, and residual income.
For homeowners, VA cash-out refinancing is available up to 100% LTV. That is a different conversation than purchase financing, but it reinforces why program access matters more than a single score threshold.
Conventional: Often 620 and Up
Conventional financing commonly starts at 620 FICO. It becomes increasingly attractive as the score rises, particularly at 680, 700, 720, and above. Better credit can improve the rate and reduce conventional mortgage insurance costs when putting less than 20% down.
A 620 score does not mean conventional is off the table. It means we should compare it honestly against FHA. Sometimes FHA produces the better payment at that score range. Sometimes conventional wins because of the property, down payment, debt profile, or long-term mortgage insurance structure. An independent broker can put both options next to each other instead of steering every borrower to one product shelf.
For 2026, the baseline conventional loan limit is $806,500, with a high-cost ceiling of $1,249,125. Many move-up buyers in Short Pump and Goochland fit comfortably within the baseline limit, while larger purchases may call for jumbo financing.
USDA: Usually Stronger Credit Helps
USDA financing can offer zero-down financing for eligible properties in designated rural and suburban areas. Parts of the counties surrounding Richmond may qualify, even when they are within an easy drive of Innsbrook or Short Pump.
USDA files generally work best when credit is established and stable. A 640 score is often a useful benchmark for a smoother process, though eligibility involves much more than credit. Household income limits, property location, and occupancy requirements all matter. A map check and a proper pre-approval beat assumptions based on a neighborhood’s appearance.
Jumbo: Expect Higher Score Expectations
Jumbo financing is for loan amounts beyond applicable conventional limits. Buyers moving into higher-priced homes often need more than a good score – they need documented reserves, strong income, and a manageable debt-to-income ratio.
Many jumbo programs favor scores in the high 600s or 700s. Yet there is no single jumbo rule because programs vary widely. That is where broker independence has real value. I can shop 500+ wholesale lenders for the structure that fits the borrower instead of forcing every jumbo buyer through one retail menu.
The Credit Score You See May Not Be Your Mortgage Score
The score in a credit card app is useful for tracking direction, but it may not be the score used for a mortgage decision. Mortgage underwriting uses credit data and scoring models designed for mortgage risk, and scores can differ among the three major credit bureaus.
For many mortgage applications, the middle score is the one that matters when there are three scores for one borrower. If two borrowers are applying together, the lower qualifying middle score commonly drives the decision. That catches couples off guard all the time: one borrower may be at 760, while the other borrower’s 618 is the score that shapes the available options.
This is exactly why a soft credit check before house hunting is useful. A NoTouch Credit Pull gives us a clearer view of mortgage-specific information than a consumer score alone. It is a no-impact credit review, not a guess based on an app notification.
A Score Is Only One Piece of Mortgage Readiness
A 700 score will not offset a debt-to-income ratio that is too high. Conversely, a 620 score can still produce a workable approval when income, assets, and payment history support it. The key is understanding which part of the file is actually limiting the loan.
Recent late payments matter more than older history. Credit card balances matter because utilization can move scores and monthly debt ratios. Large unexplained deposits can require documentation. New debt before closing can change an approval that looked solid at pre-approval.
That is why I tell buyers not to open furniture financing, finance a car, or move money around casually after getting pre-approved. The home near SP Town Center may be perfect, but the financing still has to survive underwriting after the contract is signed.
What to Do If Your Score Is Below the Range You Expected
Start by getting accurate information, not by assuming you need to wait a year. A 570 score may point toward FHA strategies. A 500-to-579 VA-eligible borrower may have a path that a conventional-only retail operation would not offer. A 615 borrower may be closer to conventional than they think once balances and documentation are reviewed.
Do not chase random score advice from social media while you are preparing to buy. The best next step is a no-score-impact pre-approval that identifies the actual mortgage score, the program choices available now, and the specific actions that could improve the file. Sometimes the answer is to proceed. Sometimes paying down one revolving balance changes the picture quickly. Sometimes a different loan program is simply the smarter fit.
A retail lender has one company’s program menu. As an independent broker, I can compare options across 500+ wholesale lenders and use the Dare to Compare approach to show you the numbers. That matters when a few FICO points can change your rate, payment, or cash required to close.
You do not need perfect credit to buy in Richmond. You need a clear picture of your actual qualification before you fall in love with a house. Start with the soft pull, keep your credit stable, and make your offer knowing which financing path fits your numbers.
Duane Buziak | Mortgage Maestro | NMLS #1110647 | Coast2Coast Mortgage, LLC NMLS #376205 | Licensed in VA, FL, TN, GA & DC [Contact] | NoTouch Credit Pull available — no hard inquiry, no credit hit.