Comments on: Whats a good FICO score in reguards to refinancing a home. What is the bottom of the good range? http://free-credit-reports-annual.com/fico-scores/whats-a-good-fico-score-in-reguards-to-refinancing-a-home-what-is-the-bottom-of-the-good-range/ Free annual credit report tips and how to get your free credit score (FICO or comparable) without spending a dime Thu, 09 Sep 2010 19:34:06 +0000 hourly 1 http://wordpress.org/?v=3.0 By: Sarah M http://free-credit-reports-annual.com/fico-scores/whats-a-good-fico-score-in-reguards-to-refinancing-a-home-what-is-the-bottom-of-the-good-range/comment-page-1/#comment-237 Sarah M Mon, 09 Nov 2009 04:54:47 +0000 http://free-credit-reports-annual.com/185/whats-a-good-fico-score-in-reguards-to-refinancing-a-home-what-is-the-bottom-of-the-good-range/#comment-237 1. A FICO score can range from 300 to 850. 2. The national AVERAGE FICO score is 678. 3. The MEDIAN American FICO score, however, is higher at 723. 4. Anything below 620 - 650 is considered a poor score. And remember - the lower you score, the higher the interest you are charged, assuming you can get credit in the first place. 5. There is nothing wrong with having a median score of 723. This is a good credit score and lenders will perceive you as unlikely to default and offer you a competitve interest rate. 6. A score of 770 and up is considered excellent and people with these scores get the very best deals. However, the advantage between having a score of 800 versus 700 is minor compared to the difference between having a score of 700 versus 600. 7. At below 550 you would be considered to have damaged credit and be in need of credit repair. 1. A FICO score can range from 300 to 850.

2. The national AVERAGE FICO score is 678.

3. The MEDIAN American FICO score, however, is higher at 723.

4. Anything below 620 – 650 is considered a poor score. And remember – the lower you score, the higher the interest you are charged, assuming you can get credit in the first place.

5. There is nothing wrong with having a median score of 723. This is a good credit score and lenders will perceive you as unlikely to default and offer you a competitve interest rate.

6. A score of 770 and up is considered excellent and people with these scores get the very best deals. However, the advantage between having a score of 800 versus 700 is minor compared to the difference between having a score of 700 versus 600.

7. At below 550 you would be considered to have damaged credit and be in need of credit repair.

]]> By: Marc Chase http://free-credit-reports-annual.com/fico-scores/whats-a-good-fico-score-in-reguards-to-refinancing-a-home-what-is-the-bottom-of-the-good-range/comment-page-1/#comment-236 Marc Chase Thu, 05 Nov 2009 18:55:47 +0000 http://free-credit-reports-annual.com/185/whats-a-good-fico-score-in-reguards-to-refinancing-a-home-what-is-the-bottom-of-the-good-range/#comment-236 Each lender is different, and only a few months ago this would have been easier to answer. But this "sub-prime collapse" has changed a lot of things With that said, a few lenders can still get you done in the mid, to high 500's. (not counting other factors) however, It's not worth it in my opinion until you get to atleast 680 The interest rates are going to be pretty poor below that. Trust me, work on your credit because right now the rates are really good and a great opportunity. Dont waste it by being impatient 680 is not hard to achieve - and you'd be well advised to work towards that before buying Each lender is different, and only a few months ago this would have been easier to answer. But this “sub-prime collapse” has changed a lot of things

With that said, a few lenders can still get you done in the mid, to high 500′s. (not counting other factors) however, It’s not worth it in my opinion until you get to atleast 680

The interest rates are going to be pretty poor below that. Trust me, work on your credit because right now the rates are really good and a great opportunity. Dont waste it by being impatient

680 is not hard to achieve – and you’d be well advised to work towards that before buying

]]> By: Hiro http://free-credit-reports-annual.com/fico-scores/whats-a-good-fico-score-in-reguards-to-refinancing-a-home-what-is-the-bottom-of-the-good-range/comment-page-1/#comment-235 Hiro Thu, 05 Nov 2009 05:46:30 +0000 http://free-credit-reports-annual.com/185/whats-a-good-fico-score-in-reguards-to-refinancing-a-home-what-is-the-bottom-of-the-good-range/#comment-235 Depends on the lender. You can usually find a lender who'll accept you even if your score is low (although it'll be tougher these days) but you'll pay more. Go to MyFico.com. They have estimated rates for different score ranges. DTI will depend on the lender too. It's not factored into the score so it's something they weigh on thier own. I'd check you loan to value ratio though. That's becoming more heavily considered today. If your highly leveraged it's going to be tougher. Depends on the lender. You can usually find a lender who’ll accept you even if your score is low (although it’ll be tougher these days) but you’ll pay more.

Go to MyFico.com. They have estimated rates for different score ranges.

DTI will depend on the lender too. It’s not factored into the score so it’s something they weigh on thier own. I’d check you loan to value ratio though. That’s becoming more heavily considered today. If your highly leveraged it’s going to be tougher.

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