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fico scores for mortgages: Good Credit scores - Good FICO scores don't mean it's a good mortgage loan - 07/18/10 04:02 PM
 

From the consumer - "I have bad credit".. "my credit is so so"... "my credit is good". "My credit scores are good", etc, etc. I have heard it all and just this alone doesn't make or break you as a potential buyer when wanting to buy a home.
The thought process of an average loan officer - "Yippie, my borrower has a 635 credit score and my company's cutoff is 620.  This borrower fits the credit ratios also, so I can do the loan."
Knowledge is power people. I know some loan officers in the past that made … (13 comments)

fico scores for mortgages: Credit scores - FICO scores for mortgages - I need a 700 credit score? - 09/15/09 09:18 AM
 

Yes, credit guidelines have gotten tougher, but NO, you don’t need a 700 credit score.
 
 
Here we go again, with realtors making things sound semi easy. There was a question on Trulia last week, and the buyer said that they heard that you needed credit scores of 700.  And what do you do if you have scores from 614 to 620.
 
 
 

 
Here was part of the answer from a realtor answering the question.
"You can actually purchase a home with a credit score in the 500'sdepending on job history, etc. I have … (53 comments)

 
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Jeff Belonger-The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans

Cherry Hill, NJ

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Address: Cherry Hill New Jersey 08034 08002 08003, Haddon Heights New Jersey 08035, Haddonfield, NJ, 08033

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I just want to educate people about mortgages and the process. In regards to lending, I am very creative, intuitive, honest, and one who communicates information, may it be good or bad. I am a loan officer that looks out for your best interest.







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