Barbie's Malibu Dreamhouse In Reality: Does Your Credit Score Measure Up?

For countless individuals, the iconic Barbie Malibu Dreamhouse represents the pinnacle of dreamy living, awash in its signature shade of pink. However, for those aspiring to purchase the real-world Barbie Malibu Dreamhouse available to book on Airbnb Inc ABNB in Malibu, it requires hefty financial backing and a stellar credit score.

What Happened: As per Tony Mariotti, the CEO of the luxury real estate entity based in Malibu, RubyHome, one would need to muster millions of dollars and maintain a credit score of at least 750 to even consider buying the Barbie Malibu Dreamhouse. This score is notably high, falling in the "very good" category, a step away from being "exceptional," as delineated by Experian, CNBC reports.

While the exact valuation of this dream property is under debate, various real estate firms have ventured to estimate its worth. RubyHome approximates it at $10 million. In contrast, online real estate databases Zillow Group Inc ZG and Redfin Corp RDFN assess it to be around $5.3 million and $3.3 million, respectively.

For individuals who find the credit score prerequisite daunting, there is a beacon of hope. Generally, acquiring a home necessitates a much lower credit score, typically ranging between 500 and 700.

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The exact score hinges on various factors, including the mortgage loan type and the lender's criteria. A conventional loan, not guaranteed by a government entity, requires at least a 620 score, as stated by Experian.

Potential homebuyers with a score between 500 and 579 can apply for Federal Housing Administration (FHA) loans, which are safeguarded by the U.S. Department of Housing and Urban Development, according to CNBC.

Borrowers can secure these loans with a minimal down payment of 3.5% of the home's value, given the buyer has a score of 580 or above. It is imperative to note that FHA loans impose certain conditions, including a compulsory mortgage insurance premium and a restriction to primary residences only.

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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Photo: Airbnb