Any time you’re borrowing money, your credit score comes into play. Buying a home is no different.

You can get approved on some loans with a score of 580 but if you have a higher credit score, they see you as less risky.

That usually means you’ll need a lower down payment and a better interest rate. Buyers with a lower credit score tend to be required to pay a higher down payment and/or interest rate. Usually, you can strike a balance between the two.