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 What should a FICO score be to get approved for a mortgage?

Answer On One Hand: Magic Number Is 620To be approved for a traditional mortgage, a borrower needs a minimum of 620 for a credit score. Additionally, the content on the credit report matters as well. The ... Read More »
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Top Q&A For: What should a FICO score be to get approved for...

Do lenders use credit score or fico score for mortgage rate?

Lenders use both credit and FICO scores to determine mortgage rates for individual borrowers. Mortgage companies use a "tri-merge" credit report that lists credit bureau scores from Experian, Equif... Read More »
http://www.answerbag.com/q_view/2094342

What is the minimum FICO score needed to obtain an FHA mortgage?

The Federal Housing Administration has no firm floor on allowable credit scores as of July 2010. FHA's Assistant Secretary of Housing David Stevens proposed implementing a "two-step" FICO floor pla... Read More »
http://www.answerbag.com/q_view/2242039

Can you get a good mortgage rate with a fico score of 623?

On One Hand: Low Credit ScoreAccording to Bankrate, a credit score of 623 places you just above the subprime loan category. Because of your low credit score, you will likely pay a higher interest r... Read More »
http://www.answerbag.com/q_view/1958773

What is the difference between a fico score&a plus score?

Since 1997, U.S. consumers can purchase their credit scores through the three major credit bureaus: Experian, Equifax, and TransUnion. Known as the FICO score, this number gives lenders an easy way... Read More »
http://www.answerbag.com/q_view/1909803


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