What Is a Good FICO Score for a Mortgage?
A good FICO score for a mortgage is typically in the 700s. However, there are a few exceptions. If you have a low credit score, you may be required to have a lower FICO score. Additionally, if you have had a recent bankruptcy, your FICO score may be lowered significantly.
The FICO credit score is one of the most important factors in determining your mortgage rates. Your credit score is a measure of your credit history and is determined by a number of factors, including the amount of debt you have, the length of time you have had that debt, and the credit utilization ratio.
Your credit score can have a significant impact on your mortgage rates, depending on your credit history and the terms of your mortgage. A good credit score can help you get a lower interest rate on a mortgage, while a poor credit score can lead to a higher interest rate.
If you are looking to buy a home, your credit score is an important factor to consider. You can get your credit score and other information about your credit history from the three major credit bureaus: Equifax, Experian, and TransUnion.
