Jump to content

Best Fico to start looking for Mortgage?


cabledude
 Share

Recommended Posts

I have gotten myself up to about 675 with help from this board. No collections, just a few scattered 30 day lates before March 2003. The only real biggie holding my FICO down is one 60 and one 90 day (prior to March 2003) late on a CC that is now current. I have asked for them to delete with no luck. I'm getting ready to try again though soon.

My question is do you think I'm even getting close to getting a favorable rate at this point or should I wait till next summer after all lates have passed the 24 month mark. Everyone says the FICO will jump after 24 months, just not sure how much.

Link to comment
Share on other sites

As you probably know, there are a lot of things that go into qualifing for a loan, but from just the credit score consideration, you are "good to go", to get a mortgage. Should be able to get a great rate. When you are shopping, even though you can "afford" a 30 year mortgage, research 5 and 7 year ARMS. They are priced cheaper than a 30 year. Most people either re-finance ever 5 years or buy a new home every 5-7 years.

Charles

Link to comment
Share on other sites

Guest
This topic is now closed to further replies.
 Share

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.. For more information, please see our Privacy Policy and Terms of Use.