I dont expect accurate answers, but just trying to get an idea.
629 is my middle score.
2007-03-09 14:34:02 · 3 answers · asked by WORLD FAMOUS 3 in Business & Finance ➔ Credit
My score is 700 and I got anywhere from 8% to 7.1. But mine will be a no doc loan so they are higher. You should do pretty good.
2007-03-09 14:50:23 · answer #1 · answered by Mama Peach 2 · 1⤊ 0⤋
For a credit score in the range of 585-599, you may have to make a down payment of nearly 5% to be approved for a home mortgage loan. Even in this case, your approval will come from a subprime mortgage lender. You have to approach a lender who deals exclusively in loans for people with not so perfect credit or in situations that cause difficulties in getting a mortgage.
If your credit score lies between 600 – 620, you might be easily approved for 100% financing. Even in this case, you have to approach a subprime lender.
For a credit score of at least 620, you can easily avail of 100% financing, along with a reduced rate of only 1 - 2 percentage points more than the prime rate.
2007-03-09 21:52:42 · answer #2 · answered by mey t 2 · 0⤊ 0⤋
it will depend upon the bank
2007-03-09 14:37:30 · answer #3 · answered by gaya.0001 2 · 0⤊ 1⤋