Posted on: 02nd Dec, 2010 02:46 pm
If I have a fico of 649 from my fico; my other scores are 624, 650, 655, am I going to get approved for a loan at a decent interest rate? I am trying to decide if I should wait until my score improves.
Welcome a3moran,
You will be able to get a FHA loan with good interest rates. However, if you wish to take out a conventional mortgage, then you'll have to wait till your score reaches 700-720 mark.
You will be able to get a FHA loan with good interest rates. However, if you wish to take out a conventional mortgage, then you'll have to wait till your score reaches 700-720 mark.
You shouldn't wait until your score improves. If you work with the right loan officer, they should be able to provide you a rapid rescore plan to increase your scores within 3 business days. Worse case 1-2 Months.
