During the boom, obtaining a mortgage for a home in Lynchburg, Campbell County or Bedford County with a FICO score in the low 500 range was not unreasonable.

In fact, provided you were willing to accept the payment, you could even do so with little money or no “skin” in the game.

In much the same way you cannot get yesterday back, if you have a FICO score that needs, shall we say, improvement, you may be unable to get a mortgage today.

Depending on your lender, the amount of your down payment and the mortgage program you are applying for, the minimum standards for qualifying could be the lowest FICO score of either borrower, with a minimum score of 680.

For those applying for a loan guaranteed by the FHA, lower scores could still get you in that home but standards have risen there as well and can vary by lender.

The best path to take before you sign a purchase contract or apply for financing could warrant having your credit profile checked out by your lender in advance.