What is the ideal credit score to buy a house at the most suitable terms and conditions? Is it a good decision to wait till I achieve that score? Can I keep my mortgage rate the same, that I'm getting now, and buy a house the next year?
Well,
there is no such "ideal credit score". But yes, you can take out a loan
with suitable terms and conditions if you have a good credit score. A
credit score of 700 and above is considered a good one! You can wait to
build a good credit score and take out a loan afterwards.
Best
credit score? Technically speaking, the best credit score is 850. Can
you achieve that? Are you willing to wait until you get that perfect
credit score?
Try to maintain a credit score between 700 and 750. That is enough. The
credit score criterion for FHA home loan is much less.
If you
can wait and you usually maintain a high score but your score has
reduced for some reasons, you can wait to achieve the magical 800+
score. Usually, a mortgage lender locks the interest rate for about
30-60 days. I would say shop for loans and compare the terms and
conditions so that you can take out the most suitable one.
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Sub: #1 posted on Tue, 08/27/2019 - 00:10
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Try to maintain a credit score between 700 and 750. That is enough. The credit score criterion for FHA home loan is much less.
Sub: #2 posted on Wed, 08/28/2019 - 02:01
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Sub: #3 posted on Thu, 08/29/2019 - 00:20
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Sub: #4 posted on Fri, 08/30/2019 - 04:26
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