credit scores and qualifying for a mortgage: Know Your Credit Report
- 12/08/08 07:25 AM
Knowledge is power when it comes to knowing your credit scores. If you are contemplating a purchase, it's a great idea to know your full credit picture before you apply for a mortgage. By planning ahead, you can be proactive about positioning yourself to get the best interest rates. Borrowers with the highest FICO scores (760-850) can expect to be offered lower interest rates and more loan choices. On the other end of the spectrum, a FICO score of 500-520 is usually the minimum required to even apply for a mortgage. Several months prior to applying for a mortgage, we recommend … (0 comments)
Knowledge is power when it comes to knowing your credit scores. If you are contemplating a purchase, it's a great idea to know your full credit picture before you apply for a mortgage. By planning ahead, you can be proactive about positioning yourself to get the best interest rates.
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