Is 550 a good credit score getting home financing?
Is 550 a good credit score getting home financing? Good 550 credit rating is not a good. It is experienced poor. You have trouble qualifying your version of mortgage that needs a credit score assessment. While recognized to own an account, be prepared to score a higher rate of interest than you need. No, 550 is not good credit getting home financing. It is a terrible get. This table demonstrates that FICO does not promote a credit rating attention speed getting credit ratings less than 620. Financial Prices from the Credit history For a mortgage, a keen FHA mortgage is best substitute for individuals with a credit score of 550 or higher. A national Housing Management (FHA) lender may take funds having fico scores as low as 500 if you…
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