Consult A Credit Score Chart When Getting A Mortgage?

1 Answer

Answer :

Getting a mortgage is not something that takes just a few hours or a few days. There are many steps to the process, and it generally takes at least a month. In many cases, it will take a few months. You can get pre-approved very quickly, but you then need to allow a lot of time for the lender to go over the case when you really apply for the loan. During this time, they will look at your work history, your debt, and things of this nature. They will try to establish whether or not you are dependable enough to get the loan. One thing that they will check during this process is your credit score. This is just a number that is assigned to you that shows what you have done in the past when you have had debt. If you have defaulted on a lot of it, your score will go down. If you have declared bankruptcy, it will go down significantly. If you have paid off all of your debt quickly and efficiently, though, it will go up. This shows that you are responsible and that you know how to handle your money. The higher your credit score, the higher the odds that you will be given the loan that you need in order to buy the house. When you get your report, it may help you to look at a credit score chart. This will show you how high or low it can be. The credit score chart will tell you what the different levels means. For example, you need to know the difference between a score of 720 and a score of 620. While one hundred points may not seem like that much, it can make a huge difference in the way that you look to the lender. Looking at a credit score chart will not change whether or not you get the loan. At this point, it will be too late for you to do much to change your score. However, it can tell you what the numbers mean so that you have a better understanding of the process.

Related questions

Description : Where can I find a mortgage company that will approve a mortgage when I have a 553 credit score?

Last Answer : There is probably no credit union or bank that will approve you when your score is that low. What on earth did you do to have such a horrible credit score? You should be ashamed of yourself.

Description : Getting a credit report/score?

Last Answer : The following link goes to a government web page that talks about how to get your free credit report and how often you can view it and all of that stuff.. http://www.ftc.gov/bcp/conline/edcams/freereports/index.html

Description : Will a low credit score hurt my chances of getting a car loan?

Last Answer : While it may be more difficult for someone with a low credit sccore to get as good of a loan as someone with a good credit score, it is not necessarily a problem or impossible. For more information www.efunda.com/formulae/finance/loan_calculator.cfm offers loan calculators.

Description : Which is the best credit score required before getting financing for his or her house.?

Last Answer : This is dependent on the individual. You can find out a lot of information about your credit score in relation to home buying on about.com. Here's the website: http://homebuying.about.com/cs/yourcreditrating/a/credit_score.htm

Description : How do you refinance mortgage w/ bad credit now after finances change do to lost of job 2 years ago. found knew job about 3 month after but pays less.Asked about modification w/mortgage company said they don't participate. ?

Last Answer : Just because your mortgage company say they don't refinance does not mean you should stop. Make a list of the places that do participate and apply there to see if you can get the help you need.

Description : How does having bad credit affect my mortgage payments?

Last Answer : If you have bad credit you will not only have a hard time getting a loan, but you will be charged a higher APR. As a result, your mortgage payment will be higher than if you had good credit. If you ... of being denied a loan until bad debts are taken care of and even then you may have a higher rate.

Description : Can I get a Federal Housing Administration (FHA) mortgage if I have bad credit?

Last Answer : Federal Housing Administration guidelines require a minimum credit score of 620, two years since the last bankrupcy and three years since the last foreclosure. Individual lenders may have more strict requirements.

Description : What are some FHA mortgage requirements and how does credit affect the amount of loan you are able to get?

Last Answer : Some FHA mortgage requirements are being employed and having a decent credit score. Your credit doesn't affect the amount you can be loaned as much as how much money you make.

Description : Is it possible to still get a reverse mortgage loan with bad credit?

Last Answer : You can get reverse mortgage, but you must also realize that if you pass away or sell your house you do not get all of the money. They will take it and all the interest that goes with it.

Description : If my credit is marginal, where can I find a mortgage for poor credit?

Last Answer : Yes, there are mortgages available for people with low credit. First, contact a reliable local bank and see what their options are. Be wary of so-called "mortgage shacks" that offer up shady mortgage advice.

Description : How can I get a mortgage with bad credit?

Last Answer : It is very difficult to get a mortgage with bad credit. You will probably first have to raise your credit score.

Description : Would today be a good time to lock into an interest rate on my home mortgage? I am getting out of an interest only, variable loan and need to know if now is the time to pull the trigger?

Last Answer : From what I understand, Feds cutting interest rates dosen’t do much for mortgage rates. I was going to refinance but it just wasn’t worth it.

Description : What is one of the disadvantage of getting a government- sponsored mortgage?

Last Answer : government mortgages take a long time and a lot of paperwork to get approved

Description : How do I go about getting a title loan so I can make a mortgage payment?

Last Answer : You will find auto title loan companies in your community. Take the title to your car with you and talk to them about a loan. Your car title will be your security for repaying the debt. Just be ware if you do not, they can repossess your vehicle.

Description : Getting Down to The Bottom of Mortgage Loans?

Last Answer : A mortgage loan is an example of an amortization loan. This means that the amount of the loan and its interest are divided into equal monthly payments. Thus a mortgage loan is a method of repayment for ... not only help them qualify for a larger loan, it will also make those payments easier to make.

Description : Is getting a reverse mortgage a good idea?

Last Answer : A reverse mortgage is for older individuals to borrow against their homes. This allows them to not have to sell there home and the bank to make monthly payments to the owner.

Description : At school, why is "cheating" seen as a negative, when in the real world, it is seen as normal and even expected for you to consult reference material, and subcontract tasks to other people?

Last Answer : It is like in grade school up to grade 9 you are expected to know how to use pen and paper for math and not be dependent on a calculator. After grade 9 you are welcome to use a calculator. For cheating ... , just in case you get a real job. Afterwards you can hire a sub-contractor to do the work.

Description : Is it possible to consult renowned physicists online?

Last Answer : answer:Michael Kaku's website has a Contact link, but it appears to be for media people only. Stephen Hawking discourages contact from the general public. I've done a little looking around, and ... Feynman, would field letters from civilians all the time. Some of these letters were collected here.

Description : If you could consult a medium or a psychic to talk with dead loved ones, friends, or anyone of your choosing, would you do it?

Last Answer : No, I would not. I would value what my loved ones said in life more than what they deemed necessary to communicate to me via a psychic medium.

Description : Do you manage your own retirement investments or do you consult w/ a financial planner?

Last Answer : We do it all ourselves through Vanguard, we look for good mutual funds with long term gains. I used to have a planner, but then realized with a little bit of work on my part, I didn’t need one and in the end I’m saving money because I cut out the middle man.

Description : Do you think it poses an unsafe risk to eat fast food, use a map light to consult a map, or use a visor mirror while driving?

Last Answer : Would she have killed the victim were she not texting and paying attention to the task of driving? Yes those other activities pose just as much of a risk.

Description : Now here are some more words. Complete them with ei or ie. Consult a dictionary if necessary. -English 9th

Last Answer : believe; receive; weird; leisure; seize; weight; reign; feign; grief; pierce This rule is applicable only in the case of ‘believe’ ‘grief’ and ‘pierce’ words. The other words have ei instead of ie.

Description : If you has caries who would you consult?

Last Answer : Dentist - its tooth decay

Description : WHY John had a stroke and is having difficulty sitting and walking. Which medical professional should he consult to improve his physical abilities?

Last Answer : physical therapist

Description : Why is it important to have the pharmacist consult with a customer that has beenprescribed a prescription?

Last Answer : It's important in order to reduce prescription drug abuse.

Description : How many grams of hydrogen does 100 g of 5% water contain? Please consult the explanation and answer. Thank you in advance.

Last Answer : Need Answer

Description : At what average speed did the car, if it covered the first 7.3 km in 5.2 minutes, then it drove 4.2 minutes at a speed of 8.3 km.h-1, then it stood for 1.2 minutes and finally it traveled 7.8 km in 1.5 minutes.

Last Answer : driving time (including stop) is 5.2 + 4.2 + 1.2 + 1.5 = 12.1 minutes in the first phase drove 7.3 km in the second phase drove 4.2 / 60 * 8.3 = 0.581 km in the third phase did not drive anything in ... 60 / 12.1 * 15.681 = 77, 75702 km average speed is 77.75702 km / h ... but I'm a bad accountant

Description : Consult the thesaurus and note down synonyms for ordinary. Use the words in your own sentences. Ordinary – Banal, normal, common

Last Answer : Consult the thesaurus and note down synonyms for ordinary. Use the words in your own sentences. (a) Ordinary (b) Banal (c) Normal (d) Common

Description : Who did kings consult to learn they're future?

Last Answer : King Peper whos therone to the only see to the north

Description : What resource might provide a student who is just starting a research project with a list of credible sources of information to consult?

Last Answer : C. An online encyclopedia article or wiki

Description : What would a student use if he or she wanted to consult a secondary source?

Last Answer : Feel Free to Answer

Description : What type of source should he consult A geologist wants to find out more about a new discovery in his field?

Last Answer : a primary source, cause it has more details

Description : Why would a political scinetist wish to consult multiple sources of information on a topic?

Last Answer : What is the answer ?

Description : If a historian wanted to determine whether iron tools can be found in the ruins of an ancient African city which of expert should he consult?

Last Answer : An archaeologist.

Description : What resource might provide a student who is just starting a research project with a list of credible sources of information to consult?

Last Answer : C. An online encyclopedia article or wiki

Description : If a historian wanted to determine whether iron tools can be found in the ruins of an ancient African city which of expert should he consult?

Last Answer : An archaeologist.

Description : Do I need to consult an engineer or a geologist before I take down retaining walls on my property?

Last Answer : No, you shouldn't need to consult an engineer or geologist regarding removing retaining walls. You will want to make sure that whoever you hire is licensed/bonded and insuranced just in case they cause any damage.

Description : If I wanted to work from home, what are some good resources to consult?

Last Answer : One great website for working at home is www.wahm.com (Work at Home Moms). They will list several sites that you can sign up to work at home or as a freelancer.

Description : At what point of vision change does a person need to consult an eye doctor?

Last Answer : A person should consult an eye doctor, once said person's vision begins to hamper his or her ability to see; his or her vision is blurry; or if he or she begins to get headaches while reading.

Description : delayed healing with breast reduction,at what point do you consult with a wound care specialist rather than your plastic surgeon?

Last Answer : I would consult a wound care specialist immediately, and I would also consult a malpractice lawyer immediately also. You can go to www.lawyers.com for this.

Description : I will like to find a firm I can consult to find information on how to start a non-emergency medical transportation business.?

Last Answer : We are a non-emergency medical transportation company and consulting firm. You may contact us a 561-615-7255 please ask for Howard Berkowitz, Vice President - Business Operations

Description : Before someone starts a business, he should consult with a small business attorney. ?

Last Answer : Before someone starts a business, he should consult with a small business attorney.

Description : When Should You Consult an Orthopedist?

Last Answer : An orthopedist is a medical doctor that specializes in treatment of the musculoskeletal system. Orthopedists treat any condition associated with the bones, from spinal abnormalities to chronic joint pain. ... other less invasive treatments with minimal results, it may be time to see an orthopedist.

Description : When is it best to consult a cardiologist?

Last Answer : If you are suffering from Heart diseases? It's important to understand how to keep your heart healthy. Heart disease cannot be cured or reversed. It requires lifelong treatment and careful ... and improve your heart conditions via prevention, diagnosis, treatment, recovery or cure of disease.

Description : If the Anglo-Indian community does not get adequate representation in the Lok Sabha, two members of the community can be nominated by the – (1) Prime Minister (2) President (3) Speaker (4) President in consult-ation with the Parliament

Last Answer : (2) President Explanation: The Constitution limits the Lok Sabha to a maximum of 552 members, including no more than 20 members representing people from the Union Territories, and two ... represent the AngloIndian community (if the President feels that the community is not adequately represented).

Description : Direct Democracy is a system of Government in which – (1) People choose the Civil Servants (2) People directly elect their Representatives. (3) People take part directly in the policy making and administration of the country. (4) Government officials consult people on various appointments.

Last Answer : (3) People take part directly in the policy making and administration of the country. Explanation: In general, the term "direct democracy" usually refers to citizens making policy and law ... to a representative democracy in which people vote for representatives who then vote on policy initiatives.

Description : Which article of the Indian Constitution empowers the president to consult the Supreme Court? (1) Article 129 (2) Article 132 (3) Article 143 (4) Article 32

Last Answer : (3) Article 143 Explanation: Article 143 provides power of President to consult Supreme Court. Article 129 refers Supreme Court to be a court of record.

Description : If you have “caries” then which doctor you have consult? A. Dermatologist B. Orthopaedist C. Dentist (Answer) D. Nurologist

Last Answer : C. Dentist (Answer)

Description : Which of the following is the most likely first step an auditor would perform at the beginning of an initial audit engagement? a. Prepare a rough draft of the financial statements and of ... and review the work of the predecessor auditor prior to discussing the engagement with the client management

Last Answer : Tour the client's facilities and review the general records

Description : Which of the following is the most likely first step an auditor would perform at the beginning of an initial audit engagement? a. Prepare a rough draft of the financial statements and of ... and review the work of the predecessor auditor prior to discussing the engagement with the client management

Last Answer : Tour the client's facilities and review the general records