I want to buy a house, and just wondering what a good becon score should be at when buying? Or does it matter? I have like a 850
2006-12-11 05:55:45 · 8 answers · asked by bryan_w74 2 in Cars & Transportation ➔ Car Makes ➔ Dodge
Wow! 850 that is a great score the highest you can get! I know mine and it is high too but not quite a 850 just a little lower not much at all and i was approved for a house easily they gave me more than i had budgeted!! So I would say you are good to go! just make sure you get a good interest rate check around!! Also if its you first time get esgrow it make paying bills so much easier!!!Good luck!!
2006-12-11 06:03:00 · answer #1 · answered by maddlove2 1 · 0⤊ 0⤋
Anything over a 680 on a stndard FICO score format should be good to purchase a home up to $1,000,000. I've been in the mortgage business for 12 years, and the highest score I'bve seen was 841, so if you've got an 850 (unless it's the new, note yet widely used scoring system) then rock on!
2006-12-11 06:04:32 · answer #2 · answered by irish_giant 4 · 0⤊ 0⤋
850 is a great score, but banks look at a lot more than just score. They are going to look at the total lines of credit that are open, how long they have been open, how they have been paid, what amount you are trying to borrow in relation to the value of the home and what term you are trying to finance for. I have seen many people with high scores that are nothing but student loans and a couple of credit cards, this type of thin credit file will not qualify for a home loan. I would suggest you get a copy of your credit scores, there are 3-credit bureaus, and review them before you go shopping.
2006-12-11 06:39:31 · answer #3 · answered by ? 7 · 0⤊ 0⤋
Credit Score affects the interest on whatever loan you decide to pull out. But if you really do have a credit score of 850, that's amazing and you'll very likely have the lowest interest rate available on your home loan if you decide to get one. Best of luck to you.
2006-12-11 06:04:16 · answer #4 · answered by coldblade666 2 · 0⤊ 0⤋
900 is the best you could possibly get, so 850 is awesome. They consider anything over 700 to be great credit scores.
2006-12-11 06:24:54 · answer #5 · answered by ...mr2fister... 7 · 0⤊ 0⤋
I got real good deal at 800, if you are at 850, shop around.
2006-12-11 06:03:28 · answer #6 · answered by zombiefighter1988 3 · 0⤊ 0⤋
Yeah, what does this have to do with Dodge? But yeah, good score.
2006-12-11 12:25:21 · answer #7 · answered by Anonymous · 0⤊ 0⤋
I didn't know Dodge made houses?
2006-12-11 07:19:03 · answer #8 · answered by Anonymous · 0⤊ 0⤋