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What should your credit score be for a first-time home purchase?
Wiki User
∙ 18y ago
The higher the score, the cheaper your loan will be. 700+ will get you the cheapest prime rates advertised in the paper. Around 520-620 will get you subprime rates meaning increased fees and or a higher interest rate. Sometimes subprime points and "junk" fees can be as much as 4 points depending on the lender. Below 520 and even the subprime lenders start looking away for you.
Wiki User
∙ 18y ago
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What does your credit score have to be to purchase a house?
if you can afford it.
What is the average credit score needed for a home loan?
The average credit score need to purchase a home is 620.
What should my credit score be before trying to purchase a home?
When you are getting a home they like to see your credit score 620 and above to get preapproved for a loan. But in order to get better rates for loans they usually want to see your score in the range of seven hundred. They may be more forgiving if this is your first home purchase.
What is the name of a company that you can purchase your credit score from?
One can get their credit rating for free from three credit reporting companies. Equifax, TransUnion and Experian will all be able to provide one with their credit score.
What happens to your credit score when you purchase a home?
Initially it may decline, due to the numerous recent inquiries but it should eventually increase significantly.
Does your credit report give you a FREE credit score?
No, your score is something that you'll have to purchase separately.
What is a necessary credit score to purchase a new car?
10 score
How can i purchase my fico score?
you should never by your score you can get it for free I mean really free no credit card required from the bureaus find out how at www.thecreditguy.tv
What does your credit score have to be to purchase a house?
if you can afford it.
What is the average credit score needed for a home loan?
The average credit score need to purchase a home is 620.
What should my credit score be before trying to purchase a home?
When you are getting a home they like to see your credit score 620 and above to get preapproved for a loan. But in order to get better rates for loans they usually want to see your score in the range of seven hundred. They may be more forgiving if this is your first home purchase.
Does checking your credit score to purchase a car at several dealerships hurt your score?
yes
What is the name of a company that you can purchase your credit score from?
One can get their credit rating for free from three credit reporting companies. Equifax, TransUnion and Experian will all be able to provide one with their credit score.
What happens to your credit score when you purchase a home?
Initially it may decline, due to the numerous recent inquiries but it should eventually increase significantly.
How does consumer credit work?
Consumer credit can be considered to be a complicated work of art. When a credit purchase is made it affects the credit score. Having good credit is essential to making huge purchase such as a house or a car.
Does your low credit score affect your new husbands credit?
No, your low credit score should not affect your husband's credit score, unless the lender/bank uses both your information for the loan. Credit score is based on each individual's information.
What credit score do condos want?
When you purchase a condominium, your lender will determine the acceptable credit score. When you rent a condominium from an owner, the owner makes a similar determination.
