is a credit score of 608 is good or bad?

Answer 1

Not the best but really depends on what you need the score for. First off, you do not need a 620 mid score for a conventional, A paper loan. Do not get me wrong, score is important, but other factors influence underwriting with Fannie Mae, Freddie Mac and FHA/VA. High income and assets and a large down payment or large equity in a refi will offset low credit score. Some scores are low because there is large debt, but no lates or derogs. Some programs are score specific, 2nd mortgages for example. FHA and especially rural housing don't factor in score that greatly, in fact you don't even need a score. Car loans are very score sensitive. Again, the importance of score really depends on what you need it for. The most important thing is to determine what is driving your score low and make necessary adjustments to drive it up.

Answer 2

It is not a great score but not a horrible score either. In mortgages, you need the middle score to be 620 or above to be approved for an "A" type loan (normal channels). You will need to work on it though to get it up high enough to enjoy lower interest rates.

Answer 3

Not great. Approx 670 is the average, though it depends on the credit rating agency. You can see a list of averages by state here:
http://www.creditreport.com/info/credit-scores/average-credit-scores.asp

Answer 4

It's the that great, a little below average), but it's not the worst score to have.

Answer 5

not good. But it is not the worst either