2007-03-11 19:15:47 · 4 answers · asked by shay22 2 in Business & Finance ➔ Credit
Almost any credit score will do, but you'll pay more the lower your score.
2007-03-11 19:19:54 · answer #1 · answered by danny_boy_jones 5 · 0⤊ 0⤋
If you have a 620 credit score you can qualify for just about any mortgage loan, but its not the credit score its the amount of income and down payment that matters. Check out the website below for more info on this subject.
2007-03-12 09:49:32 · answer #2 · answered by Anonymous · 0⤊ 0⤋
They say it is easiest if your credit score is at least 580, but we got financed with a lower credit score, and even got pre-approved before we looked at one house. The lower the credit score, they higher the interest rates, but after 6 months of on time payments, you can refinance for a lower interest rate.
Also keep in mind that for a home loan for 150k, you need to have a good income, because of the higher interest rate, higher house payment. According to my broker, about $800 to $1200 would be about the range for that kind of loan. But how much it really will be will depend on your credit score.
2007-03-12 03:46:05 · answer #3 · answered by Anonymous · 0⤊ 0⤋
It doesnt matter even if it is bad,,you will just pay more interest throughout 30 years but my payment is no higher and i have a 540,,after two years refinance and get a fixed rate by then it dont matter bout your SCORE
2007-03-12 02:53:38 · answer #4 · answered by kcir1979 1 · 0⤊ 0⤋