Start with the part that confuses most buyers: Virginia law does not set a minimum credit score for buying a home. The floor comes from your loan program first, and then from the individual lender you choose. Lenders are allowed to require more than a program minimum, a practice often called an overlay, so two lenders can give different answers to the same buyer. For buyers in Fairfax, that is why asking one lender and stopping there can close a door that another lender would open.
Here is how the main programs compare. Conventional loans commonly require a score of 620, under the guidelines most lenders follow for loans sold to Fannie Mae and Freddie Mac. FHA loans, insured by the Federal Housing Administration, use two tiers set by HUD: a score of 580 or higher qualifies for the minimum 3.5 percent down payment, while a score from 500 to 579 requires 10 percent down. VA loans are different again: the Department of Veterans Affairs sets no minimum credit score at all, and VA lenders set their own requirements while reviewing whether you are a satisfactory credit risk overall. Around Reston, where many buyers compare loan types side by side, those program floors are the right starting point, not the final word.
Your score also affects price, not just approval. The Consumer Financial Protection Bureau explains that your credit score and the information in your credit report help determine whether you can get a mortgage and the rate you will pay, with higher scores reflecting a better credit history and making you eligible for lower interest rates. Most mortgage lenders look at scores from all three major credit reporting companies, Equifax, Experian, and TransUnion, and use the middle score. The score is only one part of the decision, though. Lenders also weigh your debts, savings, assets, income, and credit history, so a buyer in Woodbridge with a modest score and strong reserves can present a different file than the score alone suggests.
If your score sits near a program floor, do the practical work first. Pull your credit reports well before you apply, check them for errors, and dispute anything wrong, because the CFPB notes that report errors can lower your score and cost you a higher rate. Then talk with a lender early, ask whether the minimum they quote is the program floor or their own overlay, and compare more than one lender if the first answer is no. If you are using a Virginia Housing program, you will work through one of its participating lenders, and that lender will apply the same program and overlay review. Small, steady steps before you apply usually matter more than waiting for a perfect score.
FAQ
Is a 620 credit score required by Virginia law to buy a home?
No. Virginia law sets no minimum credit score for a home purchase. The 620 figure is a common lender requirement for conventional loans, not a state rule. Other programs set different floors, and individual lenders can require more than a program minimum.
Can I buy a home in Virginia with a 580 credit score?
Possibly, yes. Under HUD rules for FHA loans, a score of 580 or higher qualifies for the minimum 3.5 percent down payment. Some VA lenders may also work with scores in that range, because the VA itself sets no minimum. Your lender still reviews your full file, including income, debts, and payment history.
Which credit score does my mortgage lender actually use?
Most mortgage lenders use FICO scores from all three major credit reporting companies, Equifax, Experian, and TransUnion, and use the middle score to decide the rate they offer, per the Consumer Financial Protection Bureau. That middle score can differ from the score you see on a free app or website.
If I already meet the minimum, does a higher score still help?
Yes. Meeting a minimum only addresses eligibility. Higher scores reflect a better credit history and can make you eligible for lower interest rates, per the CFPB, which can lower your monthly payment over time. Lenders also weigh debts, savings, and income alongside the score.