Your 6-Month Homebuying Plan: For Buyers with 620-660+ Credit & $150K+ Budget
Get a clear, step-by-step 6-month plan to buy a $150K+ home with a 620-660+ credit score. From credit prep and down payment to pre-approval and closing—everything you need to be ready.
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Get matched with lenders who specialize in 620-660+ credit scores and $150K+ purchases. Start your pre-approval now.
Get Pre-Approved Now →Introduction
If you're targeting a home purchase of $150,000 or more and your credit score is in the 620-660+ range, you're in a strong position—but timing and preparation matter.
With the right actions over the next six months, you can position yourself for approval, confidence and success when it's time to make the offer.
This guide lays out a detailed monthly plan to prepare your profile, get financing ready, and step into your new home with assurance.
Month-by-Month Action Plan
Month 1: Establish Your Baseline
Foundation Phase - Know Where You Stand
- ✓Pull your credit reports from all bureaus and check your score. Many conventional loans require at least a 620 score
- ✓Review for errors or negative marks—dispute anything inaccurate
- ✓Calculate your current debt-to-income ratio (DTI) and make note of all liabilities
- ✓Begin logging your savings and down payment target (for $150K+ purchase)
Month 2: Improve Your Credit & Savings
Optimization Phase - Build Your Strength
- ✓Focus on reducing credit card balances and revolving debt; keep utilisation under ~30%
- ✓Avoid opening new credit accounts or large purchases that could affect your score
- ✓Set a savings schedule: determine monthly amount to allocate toward down payment + closing costs
- ✓Ensure income/employment stability—lenders want evidence of consistent income
Month 3: Engage a Lender & Get Pre-Qualified
Connection Phase - Start the Conversation
- ✓Contact one or more lenders or brokers to discuss your scenario: "620-660 credit, $150K+ home, buying in ~6 months"
- ✓Ask for pre-qualification: they'll estimate how much home you can afford with your score and budget
- ✓Continue saving and keeping credit usage low—this strengthens your file
- ✓Begin reviewing property markets and homes at or above $150K so you understand what you're looking for
Month 4: Fine-Tune Your Profile & Narrow Search
Refinement Phase - Perfect Your Position
- ✓Pay down any remaining smaller debts to improve your DTI
- ✓Maintain savings momentum and avoid any financial or credit shocks
- ✓Define the type of home you'll target (site-built single-family, avoid mobile/manufactured if you want conventional financing)
- ✓Start viewing homes in your target area and price range ($150K+), verifying they meet lender-friendly criteria
Month 5: Get Pre-Approved & Prepare for Offer
Approval Phase - Lock In Your Financing
- ✓Submit full documentation to lender for pre-approval: pay stubs, tax returns, bank statements, savings proof
- ✓Make sure you're ready to show you meet lender criteria for purchase price, credit, down payment, and DTI
- ✓Have your savings and reserves ready—they may review assets/reserves depending on your score and loan size
- ✓Begin monitoring homes actively and be ready with your pre-approval letter to act quickly
Month 6: Make Your Move & Close the Deal
Execution Phase - Become a Homeowner! 🎉
- ✓Choose your home and make an offer with confidence—your financing is lined up
- ✓Undergo underwriting: lender verifies all details, appraisal occurs, title search, property inspection
- ✓Be ready for closing: funds for down payment, closing costs, final loan documents—ensure nothing disrupts your credit/employment this month
- ✓After closing, celebrate! You're homeowners. Then maintain good habits to protect your investment
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Compare Lenders Now →Common Pitfalls to Avoid (Especially With a 620-660+ Score & $150K+ Budget)
❌ Waiting too long to start prepping
Six months is optimal. Starting later reduces your options and preparation time.
❌ Ignoring your debt-to-income ratio
Even with a decent score, high DTI can derail approval. Pay down debts early in your timeline.
❌ Letting credit usage climb or opening new credit
Shortly before closing, any credit changes can hurt your approval. Stay disciplined.
❌ Viewing homes outside conventional lending criteria
Manufactured/mobile homes can limit options. Stick to site-built properties for conventional financing.
❌ Thinking 620 is "enough" without other strength factors
Down payment, savings, income stability all matter. Build a complete strong profile.
Why This Plan Works
Aligns with Lender Requirements
It aligns with the minimum credit score norms for conventional loans (620 or higher) and emphasizes that while 620 is a baseline, stronger profiles result in better terms.
Manageable Monthly Steps
It breaks the timeline into manageable monthly steps, making your goal tangible and actionable with clear milestones.
Focuses on Key Metrics
It emphasizes key metrics lenders care about: credit score, savings/down payment, DTI, employment/income, and property eligibility.
Realistic for Serious Buyers
It focuses on a $150K+ purchase, ensuring the plan is realistic for serious buyers, not just entry-level scenarios.
Conclusion & Call to Action
You've got the plan. With six months of focused effort, your credit score of 620–660+, your savings strategy, and your property search of $150,000 or more, you can walk into the homebuying process ready—and confident.
🚀 Start Today:
- ✓Pull your credit report and check your score
- ✓Set your savings target for down payment and closing costs
- ✓Talk to a lender who understands your scenario
- ✓Mark out your 6-month timeline on your calendar
Ready to partner with a lender who understands your scenario? Your journey to homeownership starts now.
Ready to Start Your 6-Month Journey?
Get matched with lenders who specialize in 620-660+ credit scores. Get pre-approved and start your homebuying journey today.
Get Started Now →