What is the Credit Score for a Mortgage?
January 27th, 2012
In the instance of a mortgage they will have higher expectations for your credit score than for anything else you’ve ever applied for. This is because of the size of the loan and the length of the committment. You should keep two things in mind here, though. Your credit score is not the only thing that’s important on your application. The size of your down payment is also very important. Also, the better your credit score is, the better interest rate you’ll be offered. This will save you a lot of money in this instance, so having the best you can is really the goal here. Now, in an ideal situation, you want to be in the credit rating range of about seven hundred and thirty. You can go as low as six hundred and eighty with a good down payment, but your probably not going to get the best interest rate in that range.
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