Michigan first-time buyer guide
Credit Scores and First-Time Home Buying
What scores influence—and what they do not decide alone.
More than a threshold
Credit scores can affect eligibility, mortgage insurance and pricing, but income, assets, debts, property and documentation also matter. A published minimum does not guarantee approval.
Review early
Check reports for inaccurate balances, unfamiliar accounts and outdated information. Disputing accurate negative information is not a shortcut, and opening or closing accounts shortly before a mortgage may change scores.
Protect the application
Pay obligations on time, avoid large new balances and do not co-sign during the process. Ask before financing furniture, a vehicle or appliances because new payments can alter qualification.
No perfect-score requirement
Many eligible buyers qualify without elite credit. The responsible approach is to compare available programs based on the full file and explain both cost and qualification tradeoffs.
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