Is 703 a good credit score ?

Question

We are buying a new home and they ran our credit with 3 different credit companies.Each company gave us a different score.they were 703,680 and 679. Is this good? Will they take the best one or an average.

Answer 1

Yeah 703 is pretty good but its not the best.

Answer 2

Is 703 A Good Credit Score

Answer 3

703 Credit Score

Answer 4

Is this 703 your middle score? Your report comes back with 3 fico scores, Trans Union, Equifax and Experian, so you drop the highest and the lowest in order to get your middle score, the average of the three and it looks like your middle score is 680, not 703, I'd say you have a good fico score and should be able to get a great rate, however, you may not qualify for all programs lenders have to offer, many times the minimun requirement in order to get the best rate and loan is 720 middle fico.

But if you are cautious and depending on your monthly income and expenses, your debt ratio, you should qualify for a 100% financing and a good rate if you show proof of your income and meet the guidelines based on their ratio requirement which is about 37% (your total income versus your debt)

Hope this helped

Answer 5

Your scores are good. In the mortgage industry the middle scores is used to determine interest rate as well as loan programs you are qualified for.

Even though you have good scores there might be a small problem as the top score of 703 and 679 there is a 24 point difference. Some lenders and underwirters might look at this difference and want to know how and why the difference.

You will not have a problem qualifying for a mortgage program, you need to tell your mortgage broker your intents and plans about the purchase you are about to enter into so as you can get the loan that fit your situation.

Listening to your friends tell you about the loan they got and the rate they got might not fit into your plans or financial arrangement at this present time.

I hope this has been of some use to you good luck.

"FIGHT ON"

Answer 6

They'll take an average most of the time, but some places take your highest score. It just depends on their requirements. Yes, 703 is a very good score to have. And as long as you don't have any liens or judgements against you, you should be fine. If you do, get them taken care of and your score will go up even more!
Good luck!

Answer 7

An average credit score is between 650 and 670. so 703 is better than average. Any thing above 700 is considered "good" credit.

Answer 8

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RE :Is 703 a good credit score ?
We are buying a new home and they ran our credit with 3 different credit companies.Each company gave us a different score.they were 703,680 and 679. Is this good? Will they take the best one or an average.
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Answer 9

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A credit score is based on a 12 month activity and usually goes up between 5 to 10 % per month providing you are paying on time. A good score is between 660/749 which usually takes 24 months of activity. Excellent is 750/840 and that should take another 12 months to get to that level.

Answer 10

Your score, according to mortgage lending models, is the *middle* of three scores, so 680 in your case, which is a tad below average but just fine. 703 is still below median (720, according to Fair Isaacsson, who does the modeling), but is just fine. 680 might pay an extra quarter point, but you can still get 100% financing from A paper lenders, and no prepayment penalties. Just don't go any lower.

Answer 11

yes 703 is good........they will probably take the average of the three but still all of them are good. The avg. credit score is 680