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What is considered good credit score?

What is considered good credit score? Would I be considered good or bad credit if my scores were the following?Trans Union 639Experian 679Equifax 659 by cherry_299_323 from Los Angeles, California. Jun 27th 2012 Reply


William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,727 contributions

it really depends on what your trying to do.. Since this is a mortgage website, I assuming your asking about getting financing for a home.. All lenders go by mid score.. For you it's 659. If your score is 640 or above, there are tons of financing options for you via FHA financing.. 3.5% down. Other things are important as well such as income and ratios, but the credit is sufficient.. If your score was 740 or above, then you would have just about every financing option available to you.. But don't' be distracted by a credit score.. There's so much more to consider when determining eligibility for financing.. Homes, car's, credit cards or otherwise.. The score is just one part of the puzzle.. if you want to know if you qualify for sure, you should contact a LOCAL mortgage broker, not the local "Big" bank, and certainly not one of those 50 states internet lenders...By applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Jun 27th 2012
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Bert Carpenter (BertCarpenter)
#1 ranked lender in Arizona - 1,845 contributions

The middle score is what is called the indicator score. For FHA, a score of 640 will get you access to the best pricing for FHA products. For conventional products, you need higher scores to have access to the best possible rates. For FHA, you have a great rate. For conventional, you will need a higher score if you want the best rates. At 659, you have a good score, not a great one. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com 888-889-9950

Jun 27th 2012
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Michael Chandler (mchandler15)
#558 ranked lender in California - 7 contributions

Yes, 659 is your mid-score that we as lenders will use to base your qualifications for a mortgage and what type of financing you qualify for. However, this is just 1 of many factors we look at. To answer your question, yes, I would consider this good credit, not excellent but good. And yes, as William stated above, you can qualify for an array of mortgage products. I am a local banker in Torrance, CA. Give me a call if you need further assistance.....www.mylenderdirect.com

Jun 27th 2012
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Michelle Curtis Loan Originator NMLS 401173 (EmbassyFundingLLC)
#77 ranked lender in Florida - 2,242 contributions

As the others have said you have a good credit score, not excellent. There are a lot of lenders that will work with you. All the best!

Jun 27th 2012
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Peter Botros (PeterBotros)
#71 ranked lender in New York - 895 contributions

you have good scores, if your getting a mortgage some companies will charge you a fraction of a point while others will neither charge nor credit you. credit score is a factor but you also have to have decent income to get a house. Your income will determine what type of monthly payments you will afford. For the most part your monthly payments need to be below about 50% of you monthly income. (some lenders state below 43% while others are flexible). You also must be currently employed or receiving some type of secured income and need to be discharged of bankruptcies for atleast 1-2 years. So your credit score is just one hurdle of many you need to manage.

Jun 27th 2012
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Ralph Richard Guertin (ralph@absolutelowrates.com)
#136 ranked lender in Florida - 796 contributions

740 + is top tier720 is next level700 "" "" ""680 "" "" ""660 would be the next640 FHA cut off for all the big banksSo I would say Fair credit, there will be lenders that will work with you but there will be some rate adjustments, still great rates...Good Luck

Jun 27th 2012
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Joel Lobb (kentuckyloan)
#3 ranked lender in Kentucky - 192 contributions

740

Jun 27th 2012
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