why on earth would your credit score have an effect on how much a person pays for auto insurance? i was told by geico that my rate would be lower if i had had a more "favorable" credit ...
I have a credit score of 700 but I have too much credit. I have 7 credit cards and would like to close some of them. I have read that closing your credit cards is bad but is it ok to have so many ...
I received a message at work from a person who said he was from AAA and I needed to give him a call. So I call him back figuring it had something to do with my car. He was NOT from AAA. He was a ...
I got prepaid visa debit cards like account now, and babyphat debit prepaid rushcard. I just wanted if for the looks I never plan on putting money on it, can this ruin my credit. What will happen if I...
I have one positive thing and one negative thing on my credit. The positive thing is a car loan that is in good standing. The negative is a hospital bill for $400.00 that is still owed and is ...
i just looked at my credit report do i have to pay off these things before i can get a new car?? will paying them off get my score up?? Additional Details ok i have 1 credit card for 242....
My mom passed away and left a credit card debt. They have a house which soon they will default on. No equity there with today's market. No savings and insurance. We are in CA. She's the ...
I have a $20K car loan and am considering paying it off early. I have been making payments for the past 10 months, never late, and already have an great credit score (791), but I want an excellent ...
I am looking into buying a condo in the next 3-6 months. I have two credit cards open currently (both with 0 balance- one 3 years old and one 2 years old) and wanted to open a travel rewards card ...
This is for my future information. What is the minimum that your credit score has to be in order to quilify through a bank to buy your first house? On a scale between 350~850. Thanks. Additional Details I live in West Virginia but I also like Maryland.
Depends.... I know for first time buyers it can be between 650 to 750, but of course the higher your credit, the lower your interest. I dont know what state you live in, but where I live there are programs to help first time buyers. Try to go into this with good credit (700) or perfect (730+).
Steveo
There are many variables. Depends on on how much you have to put down for the down-payment.
First house credit score is the same as any credit score. You still need to qualify.
The website below has the general rules for comparing scores to interest rates. Of course interest rates will determine payments, and payments will determine whether you qualify. I've bought several homes and I have refinanced a few times. I was a part time broker as well.
Mike
Hi there, first of all all bank are different and banks use various credit scoring models. To make matters worse the models can change daily in line with risk e.g. because of the current credit crunch most banks will have raised the score requirement SO -
The only solution is to get the best score you can and see a mortgage adviser to see which lender is accepting the most people with a fair interest rate - previously this would have been Northern Rock - now you might wat to consider the Abbey?
OK the best score - every field on the app form is relevant I mean every field. So take time before you answer! Have you got a cheque guarantee card? Check every card and if not get one - even tho you may have snapped up your credit or store cards you still have them and they will appear on a credit search so tick the yes box and you will get more points. Another key one is the length in job/current home and bank - Just because you may have a bank that you use regularly that doesnt mean that you have been there the longest - have you an account that you opened as a child? Use that one for the form and your normal a/c to repay the DD - again more points.
So I hope this proves useful - if you want me to arrange your mortgage in the future please just contact me. I am a independant mortgage adviser - AND I DONT CHARGE A FEE!!!
Good luck
Hobbes
It varies from lender to lender & week to week. Right now most want to see 680 or better
crazzinjunsmith56
they want high as possible but 600 -- 620 is what mine was.
i got 150,000 at 6- 1/4 % but i did the 20 year instead of the 30 and paid 30, down instead of 15,
its gonna make the payments like mine right at a grand a month
Theresa W
700
Ollie
I think the higher your score the better.
Gill
You have to have A-1 credit, to buy a house, like 800 are more....
heybulldog
You dont need a credit score.
Find a bank that does manual underwriting. it's not a sub prime loan and you can get the same low interest rates(as long as you don't have bad credit). It's the way it was done before the I love debt score.
If you don't believe me call around.
Check out daveramsey.com and listen to his radio show. He has lots of great advice on money and debt. It doesnt cost a dime to listen.
Of course the bankers and their loyal followers are gonna tell you to worship at the alter of the almighty fico score. But, the truth is all that gets you is DEBT.
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