what kind of credit do you need to buy a house
What credit score do you need to buy a house? Find answers to this and many other questions on Trulia Voices, a community for you to find and share local information. Get answers, and share your insights and experience.
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What’s in a credit score? march 16, 2017. Getting ready to buy a home? Then you need to be at least as obsessed with your credit score as you are with Zillow, because it’s a make-or-break number.
Best Answer: You can buy a home and get a good interest rate with a credit score of 620. Family income and debt to ratio are other things a lender will look at. A home is a very good investment and in the current market you can find really good deals.
With that being said, a higher credit score will generally improve a borrower’s chances of qualifying for a home loan in California. Related: Average score among home buyers. Let’s Talk About Your Mortgage Options. Do you plan to buy a house in California sometime soon? Do you need a mortgage loan to help finance your purchase? If so, we.
What Credit Score Do You Need to Buy a House? Written by M. Shayne Arcilla; Updated June 30, 2017 A credit score of at least 660 will qualify you for a decent mortgage rate.
While FHA loans are a great option for people buying a house, applicants can make the process even easier if they take steps toward ensuring their credit history is in tip-top shape. FHA advises prospective home buyers to approach the loan process with their best possible credit history to eliminate any potential risk of not qualifying.
One of the first things you’ll need to know if you’re starting to shop for a house is your credit score. Your credit score will determine how high or low your interest rate is, how much of a down payment you need to give and even how much a house you can buy.
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What credit score do I need to buy a house? There’s no concrete answer, but experts say that with a score of 660 can help you qualify for a home loan. scores of 660 or lower might mean ending up with a high interest rate and poor loan terms.