What credit score do I need to buy a house?

Most lenders want to see at least a 620, but to get genuinely competitive interest rates, you really want to be at 700 or above. Once you hit 740+, you're in the range where lenders offer their best terms. FHA loans allow scores as low as 500, but you'll need a 10% down payment below 580.

How does credit utilization affect my mortgage?

Credit utilization makes up 30% of your FICO score — the second biggest factor after payment history. The higher your utilization, the more it drags your score down. Since your credit score directly determines your mortgage rate, high utilization can cost you significantly. Keep utilization below 30% of your total credit limit for best results.

Can checking my own credit lower my score?

No — checking your own credit will not lower your score. When you check your own credit, it's called a soft inquiry. Soft inquiries are completely invisible to lenders and have zero impact on your score. Only hard inquiries — triggered when you formally apply for credit — can temporarily lower your score.

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Compounding and payment frequency are calculated independently, so the result is accurate even when they differ.

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