Your credit score can open the door to homeownership, or make it harder to qualify. The good news? You don’t need perfect credit to buy a home in Massachusetts.
At Onshore Mortgage, we help homebuyers across Fairhaven, New Bedford, Dartmouth, and throughout Bristol County secure financing quickly, even when their scores aren’t ideal. Whether you’re a first-time home buyer or looking to refinance, understanding how your credit score impacts your loan options can help you plan ahead.
Why Credit Scores Matter
Lenders use your credit score to measure your borrowing history and ability to repay a mortgage loan. Generally, a higher score means a lower risk for lenders and better interest rates for you. However, there’s a lot of misinformation out there about what’s actually “required.” The truth is, the minimum score depends on the type of mortgage and underwriting method used.
Minimum Credit Scores by Loan Program
- Conventional (Fannie Mae/Freddie Mac) - Previously needed a 620 credit score Update: As of November 16, 2025, Fannie Mae’s Desktop Underwriter (DU) will remove the fixed 620 minimum and instead assess borrowers based on their full credit profile. Lenders may still apply their own minimum credit score.
- FHA - 580 (or 500 with 10% down) Ideal for first-time buyers or those rebuilding their credit.
- VA - Has no set minimum (often 580–620) Available to eligible veterans and service members as well as spouse's.
- USDA - 640 For eligible rural and suburban buyers.
💡 Even with changing guidelines, most lenders, including those part of Onshore Mortgage’s partner network, still find that borrowers with scores above 620–640 qualify for the most favorable terms.
What If Your Credit Score Is Below 620?
Don’t panic, you still have options. At Onshore Mortgage, we’ve helped many clients secure fast approvals and even faster clear-to-close times by presenting strong overall files to our wholesale lending partners. If your credit is on the lower side, there other factors our lenders will consider:
- Consistent income
- Low debt-to-income ratio
- Strong savings or down payment
We recently helped a buyer close in just 6 business days, even with a mid-600 credit score, thanks to a clean file and full documentation provided by the client upfront.
How to Improve Your Credit Score Before You Apply
Small changes can make a big difference in your rate and loan eligibility. Try these quick steps before starting your application:
- Pay down revolving debt. Keep credit card balances below 30% of your limit.
- Avoid new credit applications. Each hard inquiry can temporarily lower your score.
- Review your credit report for errors. You can dispute inaccuracies through Experian, Equifax, or TransUnion.
- Keep older accounts open. They help maintain your credit history length.
🏡 Need personalized help? Onshore Mortgage offers free pre-qualification and credit score guidance to help you prepare before applying.
Massachusetts Market Insight: Local Mortgage Broker Advantages
When you work with a local mortgage broker like Onshore Mortgage, you benefit from personalized service and deep relationships with lenders, appraisers, and underwriters.
That means:
- Smoother communication
- Faster approvals
- Local expertise in property taxes and insurance
- Options tailored for Massachusetts borrowers
We’re proud to be known as one of the best mortgage brokers in Fairhaven, MA 02719, and a top choice across New Bedford, Dartmouth, and Acushnet.
The Bottom Line
While credit scores remain an important underwriting factor, they’re not the whole story. Fannie Mae’s new guidelines signal a shift toward a more holistic approach to mortgage qualification, and that’s great news for future home buyers. Even if your score isn’t where you want it, Onshore Mortgage can help you map out the best path to homeownership both locally and with award-winning service.
✅ Ready to See Where You Stand?
Take the first step today.
👉 Get Pre-Qualified with Onshore Mortgage
Or explore more home loan tips on our Articles page.
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