We’ll start with the good news: with the current economic climate, almost anyone can qualify for a home loan; including those that have filed for bankruptcy, gone through foreclosure, or have a bad credit score. Anyone can own a home, although it may cost you more than the typical borrower.

What credit score is needed to get a house?
There’s no exact number your credit score needs to be to be approved for a home loan. It depends primarily on the lender and their practices and criteria. The credit score you’ll need for approval may also depend on how large a down payment you’re able to make. Of course, the larger the down payment, the more likely you are to be approved.

The average credit score in the United States is 690, so having a credit score above this number will mean you’ll have no trouble securing a loan with good rates. If your score is below this number, however, you may run into trouble. Chances are you’ll still qualify, but rates may not be as good. If you have a low credit score look for a lender that targets you and consider an FHA loan, which has lower requirements. The best thing to do is try to fix up your FICO rating before you apply for a loan; this will help you get the lowest rate possible.

Can you get a loan without a credit check?
The short answer to this question is no; you can’t get a home loan without a credit check. Home loans are very expensive to the bank and they stand too much to lose. Secured loans are nearly impossible to get without a credit check and you should avoid an unsecured home loan completely. Remember to just be honest about your credit history with your bank or lender. Try to get a home loan with a higher than usual interest rate to make up for your low credit score. It also helps to fix up your credit for a few months before you apply.

Remember that nearly anyone can qualify for a home loan, especially in today’s market. Just be prepared for two things: you may need to provide a larger down payment and you’ll almost certainly be required to accept a higher interest rate.