Home Buying in Los Angeles>Question Details

darcyventures, Home Buyer in Los Angeles, CA

I see conflicting reports - is a credit rating of 720 good - average or ???

Asked by darcyventures, Los Angeles, CA Thu Sep 6, 2012

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8
720 is a great score! It is above average!
0 votes Thank Flag Link Wed Oct 3, 2012
720 is usually the 'second tier' of credit. First tier being the 740 and above to the 800s. This is excellent credit

720 would be consider good credit.

720 is eligible for all loan programs. The pricing may not be as agressive as if you had a 740 or above score.
0 votes Thank Flag Link Sun Sep 9, 2012
Hello Darcy,
720 is a very good credit score. 740 is the credit score that Fannie Mae has determined is the credit score required to not have any pricing adjustments hits to your interest rate.
0 votes Thank Flag Link Sun Sep 9, 2012
720 is great especially if your debt to income ratio is low. But if you have 720 and your debt to income is high than that would be an issue as to how much home you can buy. Loans also depend on how much of a down you have to go along with your good credit.

Good luck
0 votes Thank Flag Link Fri Sep 7, 2012
720 is a good score. Good enough to qualify you for almost all loan programs.
0 votes Thank Flag Link Thu Sep 6, 2012
720 is a very good score!

With this fico score you will have access to most available Mortgage Programs and Loans.

I have access to the lender who can provide you with the NO INCOME LOAN ( no tax returns needed) for as long as your fico is over 700.

GREAT RATES - FIXED TERMS!


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0 votes Thank Flag Link Thu Sep 6, 2012
720 is a good score and certainly a minimal score necessary to get financing these days. The higher your credit score...the better your rates and the more different loan programs you fit into.
0 votes Thank Flag Link Thu Sep 6, 2012
720 740 is the credit score you will need with a Fannie Mae or Freddie Mac loan for there to be no pricing adjusters for credit scores.
0 votes Thank Flag Link Thu Sep 6, 2012
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