Posted on: 06th Apr, 2007 09:23 pm
of 643 get me???????
By asking that question you are inviting trouble. There is quite a bit more that goes into providing you an ACCURATE interest rate quote then just knowing your credit score. The list of information is too long to list as a response.
Seriously, if you want an INNACCURATE quote then 1.25% is as good as any other interest rate quote, I guess. 1.25% even exists! For Real!
Now, did you want a rate quote on a pay-option ARM, owner occupied with 10% downpayment?
Shopping in this manner is short-cutting any chance at a thorough review of your situation and is bound to put you with a loan officer who thinks that short-cuts are the way to help you out.
good luck.
Seriously, if you want an INNACCURATE quote then 1.25% is as good as any other interest rate quote, I guess. 1.25% even exists! For Real!
Now, did you want a rate quote on a pay-option ARM, owner occupied with 10% downpayment?
Shopping in this manner is short-cutting any chance at a thorough review of your situation and is bound to put you with a loan officer who thinks that short-cuts are the way to help you out.
good luck.
I agree with kenstampe, by just telling anyone your score you cannot expect to get any reasonable estimate of what kind of rate you can get.
Score is one of the other many factors that will decide the rate you can get, like, income, total of your other debts, kind of loan you are looking for, down payment you can make, list will be long...
Score is one of the other many factors that will decide the rate you can get, like, income, total of your other debts, kind of loan you are looking for, down payment you can make, list will be long...
True Ken, this is something like short cut shopping and may invite troubles in future.
Interest rate is not only what a borrower should look forward to; one has to know about the services of the lender, something in short about his background and also if he is offering special programs for the borrowers. Moreover, one needs to calculate the monthly payments and make a comparison with that offered by other lenders in the market.
Interest rate depends on a number of factors - the credit score, the amount one can put down if he is a home buyer and the discount points that he will be paying etc.
James
Interest rate is not only what a borrower should look forward to; one has to know about the services of the lender, something in short about his background and also if he is offering special programs for the borrowers. Moreover, one needs to calculate the monthly payments and make a comparison with that offered by other lenders in the market.
Interest rate depends on a number of factors - the credit score, the amount one can put down if he is a home buyer and the discount points that he will be paying etc.
James
"What rate would a credit score....of 643 get me???????"
643 is a reasonably good score to get competitive market rates, but just a credit score is not what lenders look at while qualifying you for a mortgage.
Others have given a reasonable idea of what other things are checked while you start shopping for a mortgage. You should check out if those are as per what lenders would require to offer you good rates.
643 is a reasonably good score to get competitive market rates, but just a credit score is not what lenders look at while qualifying you for a mortgage.
Others have given a reasonable idea of what other things are checked while you start shopping for a mortgage. You should check out if those are as per what lenders would require to offer you good rates.
That's all I wanted to know is what kind of a score is 643. A reasonably good score is a good answer. Now when I want to apply for a mortgage at least I know that much.