I’m currently in the mid 550’s which is bad, and I’m trying to rebuild it so I can buy a house. What is a preferable credit score that lenders look for? Any suggestions on putting myself in the right position credit-wise to obtain a good loan? (I’m about to pay off a car note at $ 350/mth and am paying off credit cards that have gone to collections. I know debt to income ratio plays a role in a home loan)…

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5 Thoughts on What credit score range is viewed as acceptable/good in order to get approved for a mortgage loan?
  1. Reply
    claudia
    April 29, 2011 at 11:44 pm

    CREDIT SCORE SHOULD BE 710 OR UP FOR CONVENTIONAL AND FHA AS LONG AS CREDIT IS GOOD THE RATES ARE THE SAME (HIGH)

  2. Reply
    travelbum
    April 30, 2011 at 12:42 am

    “A” credit is now viewed as 740 and up, to get the best mortgage loan terms and interest rates. For FHA, you can have a lower score, 620. Here is an excellent free reference you should read to learn all about how to get approved for a mortgage and what they look for:

    http://www.creditinfocenter.com/mortgage/guidelines.shtml

    Here is information regarding the FHA requirements:

    http://www.creditinfocenter.com/mortgage/FHA-loan.shtml

    Best of luck to you!

  3. Reply
    Robert Albert
    April 30, 2011 at 1:41 am

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  4. Reply
    hedaya o
    April 30, 2011 at 1:49 am

    you should keep at least 2 account open if not you should open 2 account even secure cards, use them wisely, make payment on time
    and go on your score will slowly picking up, just be patient.

  5. Reply
    Paul
    April 30, 2011 at 2:04 am

    creditreport.imess.net – try this service to boost you credit score before getting loan. After credit repair you can get the loan with minimal interest rate.

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