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suong00, Home Buyer in San Ramon, CA

What would be FICO score considered good / excellent? Thank you.

Asked by suong00, San Ramon, CA Mon Apr 1, 2013

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You are getting a lot of numbers below. It used to be over 680 would get you better rates, but now it is usually over 740 depending on the lender.
0 votes Thank Flag Link Mon Apr 1, 2013
Here's a great site:

http://www.experian.com/credit-education/what-is-a-good-cred…

Regards,

-Jason

Jason K. Zaitz
Realtor®
License #01398381
NRBA®, CDPE®, NAR®
Direct - (925) 242-8971
Fax - (925) 807-5190
http://www.JasonSellsRealEstate.com
Jason@JasonSellsRealEstate.com
Re/Max Accord
0 votes Thank Flag Link Mon Apr 1, 2013
Anything over 680 should get you a good rate on a loan. The highest FICO score is 850 but attained by very few. Anybody who achieves 770 or better is an A++ rating
0 votes Thank Flag Link Mon Apr 1, 2013
Anything over 700 is considered a good score.
0 votes Thank Flag Link Mon Apr 1, 2013
Hello suong00,
FICO scores range from 300-850 and usually are taken from 3 different credit bureaus: Experian, TransUnion, and Equifax. Nowadays, lenders like to see a score in the 700+ range to be considered "good".

Here is a link to a web site that explains in more detail about how FICO scores are determined and how you can improve on them.

http://www.myfico.com/CreditEducation/articles/

Hope this is helpful!

Laura Feghali
Prudential Connecticut Realty
0 votes Thank Flag Link Mon Apr 1, 2013
A middle FICO score 740 or higher would be considered excellent. Anything below that and you will normally encounter Loan Level Pricing Adjustments (LLPAs) which would mean you would have a higher interest rate due the the combination of your credit score and the Loan to Value (LTV) of the loan.

Over 720 would probably be considered good, because adjustments would be minimal.

Between 680 and 719 is considered acceptable for conventional financing but you could be looking at a rate .25%-.5% higher because of those scores.
0 votes Thank Flag Link Mon Apr 1, 2013
Mid 700's is considered to be good.
0 votes Thank Flag Link Mon Apr 1, 2013
In my opinion, anything over 780 is considered great in the real world.
0 votes Thank Flag Link Mon Apr 1, 2013
Go for 850 and you will be "A OK." But keep your Debt to income low too.
0 votes Thank Flag Link Mon Apr 1, 2013
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