what is a good credit score to get a mortgage

Mortgage Q&A: "What credit score do I need to get a mortgage?" If you’re thinking about purchasing a new home or refinancing an existing mortgage, you should know that your credit score is going to be a big factor.. In fact, it can make or break your loan approval and carries the most weight when it comes to determining your mortgage rate.

If you’re planning to buy a house, your credit score has a big impact on your monthly payment. Take these steps from Bankrate.com to get the best score and lowest mortgage rate.

The higher your credit score, the more options you’ll have. To get to the best interest rate for a conventional loan, you’ll need to get your credit score upwards of 740. Since getting there may take a while, consider an FHA mortgage which has no added fees for lower scores, so you can get access to the best rates with a FICO near 600.

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[How to get a mortgage with a low credit score.] Unfortunately, I can’t say you’ll get X or Y mortgage rate if you have Z credit score, there are just too many factors in play all at once. And credit score is just one of them, albeit a very important one.

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5 Ways To Pay For College – Even if you decide not to pursue a loan, the FAFSA is a good first step. choice of school can get him or her an education – and a decent post-graduation job as well. It’s easier to save money for.

Can My Employer Check My Credit Score? – You need good credit to get a mortgage, rent an apartment, or purchase a car. But believe it or not, your credit might also play a role in your ability to get hired. Image source: Getty Images. Job.

What credit score do I need for a mortgage? | Money Saving. – What credit score do I need for a mortgage? For many people the first time they will ever look at their credit rating is when they first start looking for a mortgage – hopefully a few months ahead of time, but often only after having been rejected for one.

Why You Need a Great Credit Score in Retirement Too – Increasingly, though, older people are still stuck paying a mortgage. Roughly 30% of senior. re offered will be less advantageous or you might get outright denied credit if your credit score isn’t.

The FICO scores range from 350 to 850; an 850 is the Holy Grail of credit scores and 723 is the median score in the U.S., but you can expect good mortgage interest rates at the 720 to 760 level and up.