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When you apply for a home loan will the interest you get depend on your FICO credit score?
Wiki User
∙ 12y ago
Yes, your home loan's interest rate will depend on your FICO score. However, your employment history, current income levels, amount of your down payment, and market (prime) rates will also be factored in when determining the interest rate on your home loan. Individuals with very low FICO scores may not even be able to qualify for a home loan at any rate, at least without a substantial down payment or a co-signer with better credit.
Wiki User
∙ 12y ago
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Does your credit score affect the interest rate when you apply for home financing?
Your credit score can possibly affect your interest rate when you apply for home financing. If you have a low credit score, you are considered a higher risk to the bank, and therefore, they may raise your interest rate.
What type of credit cards have the highest interest rates?
In the United States many of the popular credit cards have extremely high interest rates and it varies due to a variety of factors but generally this rate varies from 6% to 12%. The interest rate of a credit card can depend on a persons credit score for example if a person has a bad credit score the interest will be considerably higher than for a person that has a good credit score.
What does it mean to have credit?
If you have a credit that is not bad but you have to pay those credit within the particular time. When you apply for a loan for any purpose, the lender will look at your credit score to measure what kind of interest will chargeable for you. So credit score is important.
What is the average interest rate on the Goodyear credit card?
The average interest rate on a Goodyear credit card is around 10-15%, depending on your credit score and time of application. You can apply for a Goodyear credit card at a Goodyear dealership.
How can one acquire a Visa credit card?
A visa credit card can be acquired through a person's local bank. The bank will check a person's credit score, determine their credit limit, and issue the card. The interest rate with depend on the credit score of the applicant.
Does your credit score affect the interest rate when you apply for home financing?
Your credit score can possibly affect your interest rate when you apply for home financing. If you have a low credit score, you are considered a higher risk to the bank, and therefore, they may raise your interest rate.
Can I apply for a car loan with a credit score of 593?
This is a very poor credit score. You can apply but it is unlikely you will get a loan without a cosigner. If you are able to get a loan without a cosigner your interest rate will be very high as compare to someone with a good credit score of over 700.
What type of credit cards have the highest interest rates?
In the United States many of the popular credit cards have extremely high interest rates and it varies due to a variety of factors but generally this rate varies from 6% to 12%. The interest rate of a credit card can depend on a persons credit score for example if a person has a bad credit score the interest will be considerably higher than for a person that has a good credit score.
What does it mean to have credit?
If you have a credit that is not bad but you have to pay those credit within the particular time. When you apply for a loan for any purpose, the lender will look at your credit score to measure what kind of interest will chargeable for you. So credit score is important.
What types of things can zero percent interest apply to?
It applies to a type of credit cards that gives you zero percent interest when they are used. They are recommended for people with a good credit score.
What is the average interest rate on the Goodyear credit card?
The average interest rate on a Goodyear credit card is around 10-15%, depending on your credit score and time of application. You can apply for a Goodyear credit card at a Goodyear dealership.
How can one acquire a Visa credit card?
A visa credit card can be acquired through a person's local bank. The bank will check a person's credit score, determine their credit limit, and issue the card. The interest rate with depend on the credit score of the applicant.
What interest is on a usaa credit card?
The interest rate on a USAA card will depend upon your credit score. Persons with strong credit have a higher likelihood of receiving a 0% introductory rate as USAA has no minimum interest rate. The general rate is 8.9% to 25.9%
What company has the lowest interest credit cards?
Interest fees vary depending on the credit card company. Most companies apply interest based on your credit score and credit history. To obtain a lower interest rate, increase your monthly payments or make payments more frequently. The more payments you make the lower your interest will be.
What is the interest rate for Wachovia Bank?
Wachovia interest rates to consumers (or businesses) depend on what credit product one is seeking (e.g., are you looking for a personal loan or a mortgage), the term for which the credit is to be oustanding (e.g., one year or thirty years), your credit history, your credit score (i.e., the higher the score, the better the interest rate that you may qualify for) and various other criteria.
Can you get a car loan with a credit score of 616?
you can get approved with any credit score. they will just get you with the interest.
What is the minimum amount that someone can apply for a small business grant?
The answer to this depends on your local bank. Different banks will offer small business grants for different amounts. This will depend on your credit score as well as there may be some interest level involved.
