Posted on: 17th Nov, 2010 11:29 pm
I have an old California state tax lien on my credit report, from 1994, that hasn't been extended by California. It hasn't been paid, but since it hasn't been extended, they can no longer try to collect on it. I want to get my first home loan. It only shows up on one credit report, Equifax.
My credit scores are 699, 723 and 673. What are my chances or getting a home loan, and if so, a fairly good rate? Everything else, is good to excellent, credit cards and car payment paid on time for years.
Thanks!
My credit scores are 699, 723 and 673. What are my chances or getting a home loan, and if so, a fairly good rate? Everything else, is good to excellent, credit cards and car payment paid on time for years.
Thanks!
Hi shawnca66,
Welcome to mortgage fit,
Getting mortgage is not solely dependent on credit score,rather work history,income proof also does matter while approving the loan.You do stand good credentials to avail the mortgage despite of the lien...
With below mentioned table you could get some idea regarding interest rate variation w.r.t. credit score...
760 to 850 tier 5.780%
700-759 tier 6.002%
660-699 tier 6.286%
620-659 tier 7.096%
580-619 tier 8.583%
500-579 tier 9.494%
So with this data you may get approximate idea how credit score does affect the interest rates charged for the deal...This data is not the actual rate available at current market price rather this is just an illustrative example for the sake of understanding ...
Feel free to ask any further query if you have.........
DIPA
Welcome to mortgage fit,
Getting mortgage is not solely dependent on credit score,rather work history,income proof also does matter while approving the loan.You do stand good credentials to avail the mortgage despite of the lien...
With below mentioned table you could get some idea regarding interest rate variation w.r.t. credit score...
760 to 850 tier 5.780%
700-759 tier 6.002%
660-699 tier 6.286%
620-659 tier 7.096%
580-619 tier 8.583%
500-579 tier 9.494%
So with this data you may get approximate idea how credit score does affect the interest rates charged for the deal...This data is not the actual rate available at current market price rather this is just an illustrative example for the sake of understanding ...
Feel free to ask any further query if you have.........
DIPA