Is a 757 FICO score a decent enough score to get a good mortgage rate?

Asked by Jon Huffington, Austin, TX Wed Jan 15, 2014

I'm a first time homebuyer and I didn't know if that score was even good enough to qualify for a home.

Help the community by answering this question:

+ web reference
Web reference:

Answers

13
Linda Fisher, Agent, Humble, TX
Thu Jan 16, 2014
Austin, Texas is a beautiful City , If you decide to come to the Houston, Humble area give me a call It would be my pleasure helping you.

linda
0 votes
Linda Fisher, Agent, Humble, TX
Thu Jan 16, 2014
You bet it is you are in the best position, However job stability , is important as well,

you should be able to get a good interest rate beautiful home

If I can help in any way give me a call.

Linda
0 votes
Susie Kay, Agent, Dallas, TX
Thu Jan 16, 2014
Yes, it is. Let me know if you need help finding a lender or realtor in your area. I know of a real good one.

Take care,
Susie Kay, Realtor®
GRI, CHMS, SFR
Residential/Commercial/Investment
English-Indonesian-Hokkien
------------------------------------------------------------------
United Real Estate
III Lincoln Centre, 5430 LBJ Freeway #280
Dallas, TX 78240
469-371-2899
susie_k@att.net

http://www.dfwdreamhomes.net

Servicing your real estate need is my priority!
0 votes
, ,
Thu Jan 16, 2014
If you have the income, assets, and employment along with the credit.

Let's discuss your loan scenario in more detail. Contact me at 800 315 8803. My name is Bart and I have been in the mortgage business since 1987. I am happy to answer your mortgage questions, 7 days a week and review your loan scenario. Until then, I look forward to hearing from you.



Bart Gabe - Lending Nationwide Since 1987

http://www.bartprequalifies.com

email bart@bartprequalifies.com

800 315 8803 or 512 686 2750

NMLS 20743
0 votes
The Roskelly…, Agent, Gambrills, MD
Thu Jan 16, 2014
Congratulations. You have excellent credit, top 1% and your responsible credit history (as reflected in your score) will help you to obtain the lowest rate available. You'll still have to qualify on income, job longevity and debt ratio. Good luck with your purchase.
0 votes
, ,
Thu Jan 16, 2014
Score is more than fine.
But it isn't all just about scores. You have to have a minimum of 3 active tradelines reporting to the credit report for 12+ months.
If you have that.... The credit part is easy on your deal.



Tom Burris
Mortgage Banker
http://www.dallasloanguy.com/
(214) 763-4629 cell/text/nights/weekends(Really!!)
tburris@servicefirstmtg.com
Lending all across the entire Great State of Texas!!
NMLS# 335055
Search Dallas area MLS for FREE. No registration => http://www.ntreisinnovia.net/cgi-ntr/BR_login?0501134
.
9yr Veteran navigating Mortgages for wonderful clients.
0 votes
, ,
Thu Jan 16, 2014
Congratulations on your excellent score. My first suggestion is that you decide on your goals: house payment and initial investment into your house (down payment and closing costs.) Then ask your Realtor for a referral to an excellent local mortgage loan officer who works for a mortgage company. That loan officer should explain the differences between the different loan types you qualify for. For example, FHA has a lower down payment than conventional: 3.5% vs. 5%. However, its MIP lasts for the life of the loan, and the conventional PMI will cancel when you reach 22% equity. Perhaps the USDA 100% loan will benefit you, but there are location and income restrictions that apply. I hope you look at all of your options before you make your decision.

Again, way to go on the terrific credit score, and good luck on your purchase.

Barbara Coker
NMLS#228545
Licensed Mortgage Loan Officer
100% Home Loans All Over Texas!
210-842-4185
0 votes
Steven Nusin…, Agent, Austin, TX
Thu Jan 16, 2014
757 Fico should get you the best of terms at the various down payment percentage levels. I would be happy to refer you to some great local lenders. Please feel free to contact me anytime if you would like a referral, additional information on a home or neighborhood, or see a property.


Steve Nusinow
(512)922-7588
0 votes
Kyle and Jam…, Agent, Austin, TX
Thu Jan 16, 2014
We believe in a team effort to help buyers through the whole process. We pride ourselves to be the educator and our clients experience the rewards. After helping my clients with hundreds of bank foreclosed homes and hundreds of auctions, we would like to help you purchase well below market value. Best regards,
Kyle Odiorne
Owning Texas
512-947-5953
Kyle@KyleO.com
0 votes
Marilyn Glen…, Agent, Austin, TX
Wed Jan 15, 2014
Congratulations Jon. You're much better off than most! There are many great lenders who can pre-qualify you quickly with basic information about your credit and expenses. I have a great guy that many of my buyers have used ... you're doing things right by considering your credit score first before looking at houses! I absolutely love working with first time home buyers as I am able to be a part of this exciting path you're on! Please feel free to call me if I can help in any way.

Marilyn Waldrop Glendenning
Mosaic Austin Properties
CE Properties, Broker
512 565 0911
mjglendenning@austin.rr.com
0 votes
Anna Culina, Agent, Austin, TX
Wed Jan 15, 2014
Jon,

Like some of the other mentioned, it takes more than just a credit score to qualify for a loan. I have worked with some great lenders who can help you. Please give me a call or e-mail me for their names.

Good luck!

Anna Culina
Berkshire Hathaway HomeServices Texas Realty
0 votes
JOSEPH E JAR…, Agent, Austin, TX
Wed Jan 15, 2014
Jon, The short answer is that yes, a 757 score is more than good enough to get a mortgage. They do go by the mid Fico score so I'm not sure which credit bureau you are referring to. If all three are in that area or above 680, you should be fine creditwise. There are other factors however that come into play when qualifying for a mortgage, including your income, debt, time on the job, etc.

Feel free to call me tomorrow and I'll be happy to refer you to an excellent lender who can pre-approve you at no cost to you. I work with only the best and also represent buyers like you at no cost to you. I also happen to be one of the top producing agents in Austin, and specialize in Negotiations & Buyer Representation. I will be available tomorrow from 10 AM until about 4 PM and most of the day on Friday. Feel free to reach out to me and I will do all I can to help! Thanks, Joe

Joe Jarusinsky, Realtor/Master Instructor, Keller Williams Realty, Austin's #1 Real Estate Company, Call 512-261-4415
0 votes
Chris Hutchi…, Agent, Hurst, TX
Wed Jan 15, 2014
With a 757 you are in good shape. It takes more than a credit score to qualify. You also need to have income and a Debt to income ratio below 51%.

You are in really good shape.

Regards,

Chris Hutchinson, REALTOR -
The Michael Group
0 votes
Search Advice
Search
Ask our community a question

Email me when…

Learn more