The higher your FICO credit score, the lower your interest rate is commonly. If your score is at 721 then your interest rate may be approximately 3 percent.
high,about 15%-18%
It affects your interest rate.
FICO score for mortgageDepends on your definition of "good". You can get a mortgage with 686 score. FICO score over 720 will get you the best mortgage rate.
Your interest rate depends on the bank that you go to. Talk to different loan officers to determine the best interest rate for you.
go to creditcards.com they may have something for you there, but it will be very hard and the interest rate will be high with that score. I've heard you can get a card from first premier bank no problem but interest rate is like 59.9%.
high,about 15%-18%
It affects your interest rate.
FICO score for mortgageDepends on your definition of "good". You can get a mortgage with 686 score. FICO score over 720 will get you the best mortgage rate.
Your interest rate depends on the bank that you go to. Talk to different loan officers to determine the best interest rate for you.
go to creditcards.com they may have something for you there, but it will be very hard and the interest rate will be high with that score. I've heard you can get a card from first premier bank no problem but interest rate is like 59.9%.
In general, yes a score of 735 is considered a great score. With this score you should get the best interest rate at almost all lenders. However, each lender and each industry has a different tolerance for the risk they will take. Your FICO score is really only a measurement of the risk of you defaulting on a debt. Some lenders for example may require a score of 740 or 760 to be granted their best interest rate. For a FHA mortgage, a FICO score of 640 will get you the best rate available.
FICO credit scores, which are the most extensively used credit scores, range from 300 to 850. A credit score of 826 means that you would be considered a low risk for a loan. You would also have a lower interest rate on a loan than someone who has a lower FICO credit score.
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.
Your fico score is only one factor in buying a home. The lender will also consider your job history, debt to income ratios, assets and how much you are putting down on the home. Fico scores under 580 may cause you to get a VERY high interest rate, if you can find a lender that will lend on the home. A score of 680 or above will usually get you an excellent rate in todays markets.
Most companies will approve a FICO score of 587 for a home loan. With this score, expect a higher interest rate since one will be considered a sub-prime borrower with 587 score.
671 is a good score thru the eyes of a mortgage lender. Anything over 620 will get you a conventional rate or the street rate you hear offered on the radio or tv. There are a number of different credit scores. Since you did not indicate what credit score you are referring to I am assuming you are referencing your FICO score. You have 3 FICO scores, 1 for each of the major credit bureaus (Equifax, Experian, and Trans Union). The score measures the likihood you will repay your debt. You can help increase your score by paying on time and reducing your debt. The score is also used by lenders for loan decisions and interest rate assignment. The FICO score ranges from 300 to 850. The minimum FICO score lenders like to see is 723. The national average is about 678.
I would say, according to most measures, that a 757 FICO score is an excellent score. This score qualifies for the lowest interest rates on home mortgages from many banks. As for auto loans, you are squarely in the top tier; a FICO score of 720, in most cases, qualifies you for the lowest interest rates on that type of loan. Of course, there are other factors which would lead to the lowest interest rate--but a high FICO score seems to be quite a significant factor. I would only be concerned if my credit practices (such as paying bills 30 days late) causes that score to become LOWER.