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Anything above 680 is considered a high credit score. 679 to 620 are considered good scores and within Fannie Mae/Freddie Mac quidelines for a conventional rate. 619 to 615--"certain" lenders may still consider your credit good but in order to get a conventional rate you may have to pay anywhere's up to a point to get that good rate. Or with other lenders 620 is the cutoff and anything under won't be considered as A paper. If that is the case, 619 and under is considered a sub-prime loan and will need a different type of lender.
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∙ 17y ago
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What does having a high credit score mean?
A high credit score means that you have great credit. A high credit score of over seven hundred can help you get a better interest rate on a loans like mortgages.
Can i get a credit card with a low credit score?
To find your credit score, go to a site such as freecreditreport.com. You want a HIGH credit score, NOT low. The best cards for high credit score are Chase Freedom Visa, Citi Platinum Select MasterCard, and Citi Diamond Preferred.
If you have a credit score of 604 can you buy a home with this score?
Each mortgage company or bank will have their own requirements. In addition to a credit score, there are other factors such as income. A credit score of 604 may be high enough to get a home with a high interest rate.
What is a credit report and a credit score?
A credit report basically contains information about your credit history, whereas Credit score is a number which is generated on the basis of your credit report. Score totally depends upon one's credit record, if history is good, credit score will be high. I always check my credit score free at Freecreditscore.com.
What is the best credit score a person can get?
The absolute highest credit score you can get is 850. Only one out of every two hundred Americans has a perfect credit score of 850. It is very difficult to obtain a credit score that high.
What does a credit score do for people?
A credit score is looked at to see if you can obtain a loan or get financed for a house, car, etc. It is important to try and keep your credit score as high as possible.
What is a high credit score rating?
A high credit score rating means someone is in good standing credit wise. They are prompt in payments and always pay payments in full. A good credit score is sought after by many people, because its a mark of a responsible person.
What effect does a credit score have on a mortgage?
The credit score can effect mortgage rates in a lot of differnt ways. If someone has a high credit score he get a lower mortgage rate and if someone has a low credit score he gets a higher mortgage rate.
How can you get your true credit score?
You can get your true credit score by going on a website. You can also ask your bank accountant for your credit score. Usually a low number is better than a high one.
What does a high fico score mean?
A high fico score means you could have anywhere from a good credit rating to an excellent credit rating. If you have a high fico score, it means you pay your bills on time with no late or missing payments.
What is the average expected credit score to receive a mortgage loan?
There is not an average expected credit score to receive a mortgage loan. You may have a low credit score, and an high income and still be able to qualify. Loans are not just based on credit score.
Is an 808 credit score high?
An 808 credit score is very good, any score in the 800 range will qualify you for most financing. According to credit experts, you do not want to let your score fall below the 700 range.
