What Does My Credit Score Mean?
Posted by Donna Burke
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This is how a lender views your credit score. Remember you can change these numbers. It is best to speak with a loan officer who can guide you through the steps to improving your score.
- 700+: Excellent.
- 680-699: Good.
- 620-679: OK. You likely won't be denied a loan, but the terms may not be generous.
- 580-619: Banks and lenders are probably able to get you a loan, but it will be very expensive for you.
- 500-580: You're in trouble. You'll need some credit repair before you get a loan.
- Below 500: You need to repair your credit now. You may be 6 months to a year from being able to purchase a home. Ask your loan officer how to repair your credit. It is easier than you think.
Categories:
Home Buying
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Disclaimer: The views and opinions expressed in this blog are those of the author and do not necessarily reflect the official policy or position of the HRIS.
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