What sort of fico number do you want to hold to catch an average intertest rate on a mortgage?
I understand the higher the better, but im wondering what fico number is considered 'good enough' by the mortgage lenders.
Answers:
In the current environment you need 700+
mid to high-ranking 600s.
Anything over 680 is considered a flawless credit risk. If you have high 700s or more, they'll bend over towards the back to win your business. Check out Suze Orman's web site for in depth info something like FICO scores. She helped develop them.
There are 24 different factors that determine your interest rate. though credit is a big factor, it is indubitably not the only one. There are some loan programs that have fundamentally competitive rates that don't even require a credit score at all.
You should be prequalified next to a lender (free) and see what's available to you. I'd be more than happy to do this for you. You can contact me casey.x.casperson(a)chase.com or visit my website caseycasperson.com
What do you be determined by average interest rate? Your interest rate will be determined by your FICO and your LTV or loan to value. This is a loaded question and is an interest rate what you are after, or are your attempting to manufacture the most of this most important transaction? This website can answer pretty much any question you hold about the entire process. inlandnorthwestmortgage.com. Good luck and make the most of it.
above 720 is the current number for 2007.
A minimum 680 fico chalk up and 20% down payment will get you a flawless interest rate on a mortgage. You may even get an exception if you're only a few points below that.
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Answers:
In the current environment you need 700+
mid to high-ranking 600s.
Anything over 680 is considered a flawless credit risk. If you have high 700s or more, they'll bend over towards the back to win your business. Check out Suze Orman's web site for in depth info something like FICO scores. She helped develop them.
There are 24 different factors that determine your interest rate. though credit is a big factor, it is indubitably not the only one. There are some loan programs that have fundamentally competitive rates that don't even require a credit score at all.
You should be prequalified next to a lender (free) and see what's available to you. I'd be more than happy to do this for you. You can contact me casey.x.casperson(a)chase.com or visit my website caseycasperson.com
What do you be determined by average interest rate? Your interest rate will be determined by your FICO and your LTV or loan to value. This is a loaded question and is an interest rate what you are after, or are your attempting to manufacture the most of this most important transaction? This website can answer pretty much any question you hold about the entire process. inlandnorthwestmortgage.com. Good luck and make the most of it.
above 720 is the current number for 2007.
A minimum 680 fico chalk up and 20% down payment will get you a flawless interest rate on a mortgage. You may even get an exception if you're only a few points below that.
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