To get a mortgage for a house How to calculate what credit score you need?
There was a time when you could get a mortgage, regardless of your credit score. There were no-credit loans, loans for people without incomes or assets, and even home loans for people who had recently declared bankruptcy.
Unfortunately, these lax lending standards were a major contributor to the near-collapse of the U.S. financial system in 2008. Lending standards have tightened considerably since then. In order to get a mortgage now, you need to be able to document your ability to pay it back, and mortgage lenders want to see a reasonably good credit history.