Monday, September 17, 2007
How's My Credit?
Credit scores range from about 350-800. If you are over 700 you are considered a good credit risk. Credit history is also important. Have your accounts been open for more than 24 months? What has been your high credit? Of course collections, judgements and bankruptcy have a negative affect on your credit score. Generally phone and cable bills do not report to the credit bureaus unless they go to collection. However, usually utilities do report so make sure that bill is paid on time. Let us know if you would like to obtain a free copy of your credit report including your credit score. We would be happy to help.
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3 comments:
I have a 620 score. Can I buy a house with limited downpayment?
I know Anonymous' question is vauge, but are there any broad guidelines to answer the question?
Such as 620 with downpayment of $5000, on a 165,000 loan, interest rate would be X%; or perhaps a brief description of FHA or VA programs
You sure can. You may qualify for a zero downpayment. If you have 3 trade lines that you have paid on time for 12 months and we can verify that, even if it does not report on the credit bureaus, you may qualify! We can also offer to help you structure the purchase so the seller pays your closing costs.
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