Posted on: 01st Jul, 2008 05:26 pm
Is this Mortgage based on credit score?
Hello kbutterfly16,
Most lenders do base the interest rate they are going to charge you on how high your credit score is. I don't understand exactly what you mean by "this Mortgage"...
Most lenders do base the interest rate they are going to charge you on how high your credit score is. I don't understand exactly what you mean by "this Mortgage"...
FHA is the only loan product that does not give rates based on credit scores
Please be a little more in depth to get a better answer as your question is a little vague.
Brian
Please be a little more in depth to get a better answer as your question is a little vague.
Brian
Hard Money or private investors have no credit requiremant normally but hteir rates and fee's are huge..
FHA technically has no minimum credit score requirement but they do have minimum credit guidelines. If you can't meet their traditional guideline requrirements alternative credit can be used to help such as rental history, phone, electric, water bills, etc..
Other than that your credit plays the single most important factor in getting a loan.
FHA technically has no minimum credit score requirement but they do have minimum credit guidelines. If you can't meet their traditional guideline requrirements alternative credit can be used to help such as rental history, phone, electric, water bills, etc..
Other than that your credit plays the single most important factor in getting a loan.
