What kind of mortgage interest rate can I get with a 660 credit score?
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I have a Chapter 7 Bankruptcy that was discharged 3 years ago. Will mortgage lenders even consider me for a loan of $100,000, with a gross yearly income of $75,000?
Since my bankruptcy, all of my payments have been on time, paying off credit cards (I have two) monthly. I have a school loan paid up to date, and no other bills. I check my credit score monthly, and for the past 6 months my score has been hovering around 660. I know it takes time, but what may lenders be willing to offer me with my current status? Should I wait another year or two before applying for a first time home loan?
What kind of mortgage interest rate can I get with a 660 credit score?Good......
Clean up credit .....Lexington, Ovation or do it yourself letters off of net.
Pay extra on all credit cards, student loans to build up your fico. Do NOT apply for any new credit. Opt out of all pre-approval nonsense. These soft and hard inquires bring down the fico.
Your 660 is a decent score......the higher your score the lower your interest rate will be.
Most lenders will give a 100% LTV no money down loan for 7% if cash flow is tight. Put 25% down and with your 660 fico you can get a much lower interest rate than 7%.
What kind of mortgage interest rate can I get with a 660 credit score?You really need to talk to several loan companies, preferably local ones, not internet companies. I'm finding some of the internet companies are still making it sound really good upfront, then when you're ready to get onboard, the rules changes. So take my advise, I'm in the business, talk with local loan companies first.
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