Well my wife and I will be looking into a house soon and I was wondering from those who recently got mortgages how your credit score affected it.
My wife and I both have scores in the upper 700’s. I have been told that that type of score is very good and average if not below.
From those of you who recently bought a house, where would an upper 700 score leave me when trying to buy a home? With the mortgage crisis I’m afraid of being turned down or getting an awful rate.
Upper 700’s is still very good.
Mine is/was 820.
I still hear commercials that say 600s are good!!!:bloated:
Thats what I’m saying, the scores range from 501 to 99X, and yet I hear that 600’s are good and then I hear that being below 800 is bad?!
You are fine in the 700’s.
anything over 720 will qualify you for the best rates…
You can qualify for a lot of good stuff as long as you fit a certain criteria
Usually 680+ FICO, income combined less than 75K, will net you a nice loan rate, as long as you have 20%
740 now, actually
you’ll be fine.
my score sucked at the time i applied and i got the best rates, I was at like 710 in October when i applied for mine.
FICO highest is 850 according to what I’ve seen/read.
your credit score is fine and won’t even slightly be a barrier… the only other thing you have to measure up against is your combined income vs. debts. I’ve met people who make $7 an hour bragging about having an 800 credit score acting like they can go buy some mansion due to good credit… I’d rather make $40 an hour and have a 500 credit score.
one question - how has nikuk not sploooooged all over this thread yet?!
720 is the new 680
Yeah, it is really about living within your means more than just your pay.
My old mortgage was $650/month and my pay is muuuch higher than when I got the mortgage so it looks really good.
My new mortgage probably crushed my credit score.:lol:
Other shit to do…
Besides, this has been discussed many, many times. And the only changes have already been posted.
Why Nikuk? What does he do?
PM me, the guy I’m working with at M&T bank is a real pro, real honest no bullshit either.
They have a bunch of real good loan programs, he will ask you questions and suggest the right loan for you.
they all bullshit, it’s how they make money… the secret is to know when they’re bullshitting you. if you don’t think they are then chances are you’re missing it.