Average Credit Score Needed for 5 Mortgage Types in 2026
Written by
Caitlyn Moorhead
Edited by
Cory Dudak
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For hopeful homeowners, the softening in credit scores post-pandemic presents a unique opportunity to buy in 2026, as it plays a major role in determining which mortgage loans you qualify for and how much you’ll pay in interest. While there are other obstacles to purchasing property such as supply and demand on the housing market inventory, a better credit score removes a barrier that once prevented people from throwing their hat in the homeowner’s ring.
For among the millions looking to buy a home this year, here are the average credit scores for five different types of mortgage loans.
Quick Take: What Does an Average Credit Score Look Like?
The national average credit score in the U.S. is approximately 715, according to Experian, falling into the “Good” credit category ranging from 670 to 739. While this shows general stability, scores vary by generation. Here’s a quick breakdown of average credit scores by age:
- Silent Generation: 760
- Baby Boomers: 746
- Gen X: 709
- Millennials: 691
- Gen Z: 681
To help you understand where you stand, here are the average credit scores required for five of the most common types of mortgage loans.
1. Conventional Loan
Though the minimum credit score is 620, according to FHA.com, the average credit score for Americans with a conventional/conforming mortgage loan is higher, at about 738. Homeowners with these types of loans carry an average mortgage of around $220,000, with rates typically ranging from 6% to 6.7%. Generally, to qualify for a conventional loan, purchasers will need to have a 10% down payment, but many may allow 3% to 5% down, especially for first??’time buyers.
2. Jumbo Loan
Jumbo loans, or those that exceed the loan limits set by Fannie Mae, Freddie Mac and the Federal Housing Finance Agency, tend to have higher costs compared with conventional loans. They are also reserved for individuals with higher credit scores.
On average, jumbo loan borrowers have a credit score of 768 and take out a loan of around $1.1 million.
3. FHA Loan
Inflation aside, saving 10% to 20% for a down payment can be challenging for the average American. Programs and alternative loans are available to help potential homebuyers secure lending. Federal Housing Administration (FHA) loans are government-backed loans that help to protect lenders against losses.
The protection from the FHA enables lenders to offer fewer restrictions, including lower down payments and more options for individuals with credit scores below 700. While the FHA allows scores as low as 500 (with 10% down) or 580 (with 3.5% down), the average credit score for an FHA loan carrier is 645.
4. VA Loan
Veterans may qualify for a number of benefits using a Veterans Affairs (VA) home loan. Most lenders remove down payment requirements, offer competitive interest rates and include limited closing costs. The average credit score of someone with a VA loan is 692, which is above the 620 common lender overlay, although there is no official minimum score required.
5. USDA Loan
Borrowers looking to buy a home in some rural areas may qualify for loans issued through the U.S. Department of Agriculture (USDA). These low-interest mortgages are designed to assist lower-income borrowers with purchasing a home without requiring a down payment in most cases.
The average credit score of someone with a USDA loan is 684, and the average loan amount is about $136,000. It is important to note that USDA loans do not have a minimum credit score requirement to qualify, though most lenders typically look for a score of at least 640, per USDALoans.com.
Crystal Mayer contributed to the reporting for this article.
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