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Is 615 middle score considered a good credit?

The form on this site only has excellent, good, poor, bad. What is 615? by Ileana_124_642 from Stanton, California. Feb 16th 2012 Reply


Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 4,299 contributions

615 is considered a poor score, and will disqualify you for the vast majority of loans. Work on repairing your credit before looking for a mortgage loan. Fixing credit report errors - what to do. To insure that the mistake gets corrected as quickly as possible, contact both the credit bureau and organization that provided the information to the bureau. Both these parties are responsible for correcting inaccurate or incomplete information in your report under the Fair Credit Reporting Act.First, tell the credit bureau in writing what information you believe is inaccurate.The credit bureau must investigate the item(s) in question - usually within 30 days - unless they consider your dispute frivolous. Include copies (NOT originals) of documents that support your position. In addition to providing your complete name and address, your letter should: Clearly identify each item in your report you dispute. State the facts and explain why you dispute the information. Request deletion or correction.You may want to enclose a copy of your report with the items in question circled. Your letter may look something like this sample. Send your letter by certified mail, return receipt requested, so you can document that the credit bureau received your correspondence. Keep copies of your dispute letter and enclosures.Second, write to the appropriate creditor or other information provider, explaining that you are disputing the information provided to the bureau.Again, include copies of documents that support your position. Many providers specify an address for disputes. If the provider again reports the same information to a bureau, it must include a notice of your dispute. Request that the provider copy you on correspondence they send to the bureau. Expect this process to take between 30 and 90 days.In many states, you will be eligible to receive a free credit report directly from the credit bureau, once a dispute has been registered, in order to verify the updated information. Contact the appropriate credit bureau to see if you qualify for this service.

Feb 17th 2012
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Jack Suddarth (jack@equitywavelending.com)
#451 ranked lender in California - 3 contributions

Yes it is good credit for Equity Wave Lending we can go owner occupied with a score as low as 560! Call today at 949 252 0025 x 102 Jack Suddarth or send your info to info to info@equitywavelending.com

Feb 16th 2012
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William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,728 contributions

It depends on why... if you want to know if it's a score of 615 is good enough to purchase a home, the answer is yes.. there are lenders who go down to 500 credit scores in your market. If you asking a general question about good credit or bad credit, then 615 is a bad score. WilliamAcres.com

Feb 16th 2012
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Bert Carpenter (BertCarpenter)
#37 ranked lender in Arizona - 2,236 contributions

It depends on what you are trying to do. 615 is good enough for some lender's FHA products, but not good enough for most. 640 is great for almost all FHA lenders, but still not good enough for FNMA/FHMC programs. Work with a local Mortgage Banker/Broker to help you understand exactly what steps you can take to get your score higher. Many times it's just a couple of small things to make a big difference. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com

Feb 16th 2012
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Blake Kleckner (BlakeK)
#391 ranked lender in California - 261 contributions

A 615 FICO is not considered good. You would have a very difficult time getting a mortgage loan with this score, if you could at all. A FHA loan is a possibility, however, very few lenders will do one for someone with a FICO score less than 620. Fortunately, we have a few lenders that will. One of them, in fact, will do an FHA loan even if a person has no scores at all! Give me a call 16/7, or email me, and I'll be happy to walk you through the process. To learn more about me and our mortgage brokerage, click on my picture. When the next page pops up, click on "Website" and you will be redirected to ours. We work exclusively in CA and get loans done fast, typically in less than 30 days, at low interest rates and costs. Representing 39 quality lenders that offer more than 1,000 loan programs, we definitely have something for everybody.

Feb 17th 2012
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