When it comes to understanding credit score requirements for different types of loans, it's important to recognize that lenders have varying criteria based on the type of loan being sought. Here are some general guidelines for common loan types:

• Mortgages: For conventional mortgages, a credit score of 620 or higher is typically required. However, to qualify for the best interest rates and terms, a score of 740 or above is often necessary. Government-backed loans, such as FHA loans, may accept lower credit scores, sometimes as low as 500, but with additional requirements and higher interest rates.
• Auto Loans: Lenders offering auto loans may consider credit scores as low as 500, but again, higher scores will lead to better terms and rates. Subprime lenders may approve loans for borrowers with scores in the 500-600 range, but at significantly higher interest rates.
• Personal Loans: Credit score requirements for personal loans can vary widely depending on the lender. Prime lenders typically look for scores of 660 and above, while subprime lenders may approve loans for scores as low as 580, albeit with higher interest rates.
• Student Loans: Federal student loans generally do not have strict credit score requirements. However, private student loan lenders may look for scores in the 650-690 range for approval.

It's important to note that these are general guidelines, and individual lenders may have their own specific requirements. Additionally, other factors such as income, employment history, and debt-to-income ratio also play a significant role in loan approval and terms.

References: NerdWallet - Minimum Credit Score for a Personal Loan, Bankrate - What Credit Score Do You Need for a Mortgage?