Just what exactly is "A" Credit ? Is this what the lender is looking for ?
Times are changing and so are the lending requirements, and it's getting tougher.
"A" CREDIT
• Job stability - two years in same profession
• Debt ratio (house payment, installment &
revolving) not over 55% of gross income
• Consumer credit - two 30-day late payments
but no 60 or 90 day late payments
• Mortgage credit - no late house payments in the
last two years
• Liens, judgments or collections paid and none
in the last two years.
• Bankruptcy . at least four years since your discharge
- excellent credit since
....and what can you qualify for ?
Best Interest Rates
Rate and Term Refinance . 90% LTV
Cash Out Refinance . 80% LTV
I suppose it's safe to say that if you meet the criteria you have excellent credit.
Can you think of anything else ?
Next : "AX" Credit
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