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I am trying to build my credit so I can get mortgage. After a house would be "closed" and ready for me to move in and make monthly mortgage payments,
but what if sometime in the distant future if my credit score drops for whatever reason (too many student loans or whatever) would the mortgage foreclose and I would lose the house and be kicked out of it?
In other words do I have to have perfect or almost perfect credit the entire time I am paying off the mortgage?
You get foreclosed on when you don't pay the mortgage, not when your credit score changes. Although not paying the mortgage and getting foreclosed on would certainly hurt your credit score. We are almost to the point where we can buy again after a foreclosure.
A drop in your credit score will not cause a foreclosure. A mortgage is a contract. You borrow money and have a contractual obligation to repay it. As long as you continue to pay the payments and follow all the terms of the agreement (keep insurance, maintain the property, pay the taxes, etc) the lender will not foreclose. Even if you run in to trouble financially and your score drops it won't matter. Your credit score is based on several factors with payment history being the largest component. Pay your bills and you will be fine.
No, they don't keep checking your credit score and then jerk your loan away if your credit score drops below some magic number. They really don't care how you pay anyone else, as long as THEY are getting paid as agreed. :-)
Some of these answers are trying to confuse the poster, which is mean spirited.
The statement about the mortgage being based on a contract is the true answer. You sign a contract promising to pay for the loan on your house, and if you meet the conditions of the loan (make the payment, pay the taxes, keep it insured), then if your credit rating falls, that will not cause foreclosure.
If you do not make the mortgage payments, then you are in trouble. If you do not pay your property taxes you will potentially lose your property. If you do not pay homeowners association fees (not all properties have hoa) you might lose the house. You must maintian home owners insurance so that if the house is destroyed and you stop making payments the bank can get back some of its investment. But if your credit score falls, no problem.
Since you are thinking ahead to the future, as long as you pay your bills on time and every time, your credit score will continue to get better and better, so just keep this in mind.
But also"Too many student loans" won't cause your credit score to drop either, UNLESS you don't pay them. Yes, if you take out an excessive amount of credit and loans, it may dip a little bit. But the main thing that counts is paying your bills on time every month. As long as you do that, your score will be ok.
You qualify to GET a loan, after that all that is required to avoid foreclosure is keeping current on the mortgage.
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and ready for me to move in and make monthly mortgage payments, 
