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What does a 640 credit score mean?

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2012-02-29 21:48:29
2012-02-29 21:48:29

Your credit is fairly good. Well, maybe about average. Credit scores over 620 means that you can get pretty much any loan or credit you want, with okay terms. Credit scores over 720 are gold. You can get the best interest rates.

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An average score is between 640-679.

Most lenders require at least a 640 credit score for a mortgage.

No 640 plus is but you are getting close.

A 567 credit score is not terrible but there is room for improvement. For loans a credit score around 620 รƒ? 640 is fine, depending on the company.

Your credit score. That's a little under whats considered "good" which would be 640-850. You may need a co-signer.

Yes, you can get a mortgage with a 640 credit score and four charge offs. Obviously, the better debt to income ratio, better credit score, and fewer negatives all help in securing the best loan possible for your situation.

It's bad-640 plus is good.

As of October 20, 2008, they are going to merge with T.D. BankNorth. A Credit Score of 640 is needed for a "Personal Loan". As of October 20, 2008, they are going to merge with T.D. BankNorth. A Credit Score of 640 is needed for a "Personal Loan".

Excellent. Anything above around 640 is good.

Anything above 640 is considered good or eligible for finance.

sub prime credit score refers to a credit score which is below the national average. According to a 2011 Experian study, the average score in the USA is 687. So, anything under 687 is considered sub prime.

Free Credit Score runs from 0-999. It's based on information in your Experian Credit Report โ€“ such as how often you apply for credit, how much you owe, and whether you make payments on time.

Score not available due to lack of credit history.

Yes as long as you mid score is at least a 620 but you better hurry. I know of several lenders that have have increased the credit score requirement to 640+ for <A href="http://www.fhamortgagesdoneright.com">FHA loans</A>

You will have no problem. Anything above 640 is good & even with lousy credit you can get a car. You just pay more interest.

Below you will find an approximate example of what an issuer may use in regards to credit. One factor to consider is the rate will differ dramatically from a person with good credit and a person with bad credit. Credit rating and history will also affect the amount of credit that is given. Credit Score Rating Example Excellent - 720 - 850 Good - 680 - 720 Fair - 640 - 680 Poor - 350 - 640 No Credit - 300 - 349

A credit score is a credit evaluation rating. The British use score to mean the number twenty, as well.

A credit score of 630โ€“689 is generally considered to be fair credit score, 700 or above is generally considered to be a good credit score.

Most lenders require a minimum credit score of at least 640 in order to approve you for a mortgage. There are lenders which will do scores under 640, but they will require a higher down payment and give you a much higher interest rate. I would advise you to bring your score up 16 points to 640 before applying for a mortgage, those 16 points may end up saving you tens thousands of dollars.

From a 640 - 679 is considered average 680 - 699 considered Very Good 700 or above is excellent credit

That you don't have established credit.

Fair credit..not good not bad

That's not bad. you are right around the cut off for decent loans with fair interest. As far as getting the loan, don't worry. if you have the income, anyone can, you just pay more with lousy credit.

Generally, FHA credit score requirement is 620-640, and 660 for a conventional loan, so yes. The rest depends on your income, debt to income ratio, and down payment.


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