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What Is "A" Credit ?

By
Industry Observer TN LIC# 290452

                                                     a

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

 

• Excellent credit for the last two years

• 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

 

Loan-to-value 95%-97% of appraisal

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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Time&Temp Memphis

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