Credit Smart Solutions

Minimum Credit Score for Home Loans in Australia | 2025 Guide Minimum Credit Score for Home Loans in Australia Thinking about buying a home in Australia? One of the most important factors lenders will consider is your credit score. But what exactly is the minimum credit score required to secure a mortgage in 2025? Let’s break it down. What Is a Credit Score and Why Does It Matter? Your credit score is a number that reflects your creditworthiness. It tells lenders how likely you are to repay borrowed money. In Australia, credit scores typically range from 0 to 1,200 (Experian/Equifax) or 0 to 1,000 (illion). Credit Score Ranges (Experian Example) 800 – 1,200: Excellent 700 – 799: Very Good 625 – 699: Good 550 – 624: Fair 0 – 549: Poor What Is the Minimum Credit Score for a Home Loan in 2025? While there is no universal "cut-off" score, most Australian lenders require a credit score of at least 620 to 660 to consider you for a ...

Minimum Credit Score for Home Loans in Australia Applying for a home loan in Australia? Your credit score could make or break your chances. In 2025, lenders are paying even more attention to your financial profile. Let’s explore what credit score you need — and how to boost it. What Is a Credit Score? In Australia, credit scores range from 0 to 1,200 depending on the credit reporting agency (Equifax, Experian, illion). A higher score means lower risk for lenders. Minimum Credit Score for Different Lenders Lender Type Minimum Score Notes Major Banks (e.g., CBA, NAB) 650+ Prefer stable income & history Online Lenders 500–600 More flexible but higher interest Non-Conforming Lenders Below 500 For poor credit, expect higher fees How to Improve Your Credit Before Applying Pay down existing debts Make bill payments on time Don’t apply for new credit months before applying for the mortg...