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So what credit score qualifies for the best rates?
Posted on 1/9/09 at 11:12 am
Posted on 1/9/09 at 11:12 am
I used to have it pretty much figured out, but I have seen some of you mention that many of the rules have changed in the last few months on mortgage rates.
We just completed the application for a re-fi and the lady told us we have a credit score of 810. That sounds great to me, but I want to double check with some of you.
We just completed the application for a re-fi and the lady told us we have a credit score of 810. That sounds great to me, but I want to double check with some of you.
4
Posted on 1/9/09 at 11:16 am to footballislife
680 and up used to be what would get you the best rates but I think its probably a little higher now, maybe 720 or so. 800 and up is the gold standard, my friend.
Posted on 1/9/09 at 11:28 am to footballislife
I'd say 760 and 40% equity. At least that's what my co-worker just told me when he applied.
Posted on 1/9/09 at 11:33 am to Tiger JJ
730+
Posted on 1/9/09 at 4:39 pm to footballislife
It depends on your LTV (Loan to Value) also, but 740+ is the top will ALL of the lenders, some are at 720+
Posted on 1/9/09 at 11:08 pm to footballislife
My mortgage broker told me 760 with verified income and low/no balances on credit cards.
Posted on 1/10/09 at 10:04 am to Martavius
depends on LTV. You put enough down, 680 is gold. you don't, 720 and still need to put a good bit down.
Posted on 1/10/09 at 10:17 am to prplhze2000
i think it depends on a several factors. brokers are still using desktop to do initial underwriting i assume and it depends on ltv, dti, reserves, but credit being the strongest factor.
Posted on 1/10/09 at 7:07 pm to sheek
DU is now treated by lenders as a recommendation, not a decision. They've gone back to the old stacking sheets and ignoring findings to some degree.
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