My FICO score is 647...?

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Kevin 866-562-6838 x 106

kruorock@firstratelending.com

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Ohhh, and Bob... I did ask about the tax and insurance... Thanks. :-)

My FICO score is 647...?

a 647 score is not bad but not great the cut off for great credit or average is 680.

you can get 100% finaincing if you want or need too. 2000.00 a month will get you about a 225K home, or somewhere around there.

Be careful of people offering you Interest only loans or adjustable rate mortages. Stay away from Variable rates that adjust monthly. These can increase your payments monthly and right now those rates are as high as 10-12% in some cases. if you have the resources and most people do, get a 15 year mortgage, you in crease your equity faster and pay off the home quicker and it does not increase your payment that much.

My FICO score is 647...?

DO NOT GET 100% financing you will end up signing a interest only or arm loan or worse a Helok. All three will have you on the street in 2 years. Save at least 5% down and 3,500 for closing costs. The only safe loan is a straight 30yr or 15 yr FIXED loan. Your credit score only matters if you are doing a no-doc loan. If you do not own a business then do not worry about the credit score. Make sure you have been in the same job for at least one year if not two. That is what really counts, and how much you put down.

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My FICO score is 647...?

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