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Ryan Teodoro... Asked 1 more question
2 years ago
I was wondering if a score of 800 was good enough to secure a loan, and if so, what kind of APR can I expect?
 
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Eric Campbell... Answered 27 more questions
2 years ago
Yes, 800 is almost the highest possible score for a mortgage credit inquiry and most lenders will go down to 640 or even 620. The VA rates are historically low but it's hard to know the exact interest rate until a full application is filled out and you have a sales contract on a home. In general, 30 year fixed rates are in the upper 3's and lower 4's. For a 15 year you can expect rates from mid 3's to possibly the upper 2's.
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Jose Acevedo
2 years ago
800 is very high and definitely an ideal credit score when applying for a mortgage, but some lenders have programs that go as low as a 580 credit score. You can certainly expect a very competitive interest rate with an 800 credit score but keep in mind that the credit score is not the only factor that determines your interest rate - other factors include, debt to income ratio, loan to value, dwelling type and even occupancy.
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Joe Wallace... Answered 321 more questions
2 years ago
Credit requirements vary from lender to lender, but for example, the FHA single family home loan minimum credit score requirement is 580 for maximum financing (requiring a 3.5% down payment). Many lenders may ask for FICO scores starting around 620 or 640, so your 800 FICO score is likely good enough for most lenders depending on circumstances and your other financial qualifications.
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derrick perkins
a year ago
honestly no idea , lol, however , mine in the low 600's managed me a low rate on my home refi, 2.75% I think it was ? it was done 3 yrs ago , and I had a bankruptcy 10 yrs prior (which should not have had any affect due to the long time period , so I would figure you are sitting about in the drivers seat ! :) , in person AND online (such as lending tree, and the like) you can have some of them actually vie for your business , if you show one a rate from elsewhere that is lower , they may match or go lower !? ,
then also you may have a person you feel most comfortable with, but , compare each companies terms as well as rates ,good luck ! I hope to be next in several months ! :)
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