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FICO is one of three major organizations that keep track of an individual's credit history. FICO's scoring system runs from 300 to 850. Although a score of 500 or lower may not cause someone to be denied credit, it is considered below average by most lenders. If you are denied credit, FICO is required by law to provide a free copy of your report.
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What type of a FICO score do you need to get approved for a fast cash loan?
Generally your FICO score has to be high to get a fast cash loan. A high score to me would be between 700 and up to like 800. There are companies that I have seen that will help with a score of about 500.
What is the difference of the fico score and vantage score?
For starters FICO is scoring range is 300 to 850 Vantage is from 500 to 990 no one in the mortgage industry uses Vantage for more information check out www.thecreditguy.tv
How long will it take you to increase your FICA score from 528 to 580 to get 100 financing on a mortgage?
Fico score ( credit score ) depends on a lot of issues ... pay your monthly payments on time .. For credit cards and everything pay them on time and well then again i would say that below 500 nothing happens .. above 500 of score everything is possible .. you need to contact a brooker .. they can get things done
What are the historical default rates classified by FICO score?
... ICO says consumers in my score range of 750-799 have a delinquency rate of 2 percent. But FICO scores below 500 have an 83 percent default rate, 500-529 shows a 72 percent delinquency rate, in the 550-599 range there is a 52 percent probability of delinquency, 600-649 scores show a 31 percent delinquency rate, and 650-699 have a 15 percent delinquency rate. Over 700 the delinquency rate drops to 5 percent up to 749. If your FICO score is 800 or over, you have a 1 percent delinquency likelihood ... from http://vfconsulting.blogspot.com/2005/07/abcs-of-credit-reports.html
Is a fico score of 728 a good or excellent score?
Yes, its a great score!!! Below is a way of interpreting your credit score. Given the current credit score stats, how does this relate to your own personal score? Generally, if your score is higher than 660, you will be considered a good credit risk. If your score is below 620, then you might have a tougher time getting a loan. The following ratings explain the impact of the different score ranges: * 720-850 - Excellent - This represents the best score range and best financing terms. * 700-719 - Very Good - Qualifies a person for favorable financing. * 675-699 - Average - A score in this range will usually qualify for most loans. * 620-674 - Sub-prime - May still qualify, but will pay higher interest. * 560-619 - Risky - Will have trouble obtaining a loan. * 500-559 - Very Risky - Need to work on improving your rating.
What type of a FICO score do you need to get approved for a fast cash loan?
Generally your FICO score has to be high to get a fast cash loan. A high score to me would be between 700 and up to like 800. There are companies that I have seen that will help with a score of about 500.
What is the difference of the fico score and vantage score?
For starters FICO is scoring range is 300 to 850 Vantage is from 500 to 990 no one in the mortgage industry uses Vantage for more information check out www.thecreditguy.tv
How long will it take you to increase your FICA score from 528 to 580 to get 100 financing on a mortgage?
Fico score ( credit score ) depends on a lot of issues ... pay your monthly payments on time .. For credit cards and everything pay them on time and well then again i would say that below 500 nothing happens .. above 500 of score everything is possible .. you need to contact a brooker .. they can get things done
What are the historical default rates classified by FICO score?
... ICO says consumers in my score range of 750-799 have a delinquency rate of 2 percent. But FICO scores below 500 have an 83 percent default rate, 500-529 shows a 72 percent delinquency rate, in the 550-599 range there is a 52 percent probability of delinquency, 600-649 scores show a 31 percent delinquency rate, and 650-699 have a 15 percent delinquency rate. Over 700 the delinquency rate drops to 5 percent up to 749. If your FICO score is 800 or over, you have a 1 percent delinquency likelihood ... from http://vfconsulting.blogspot.com/2005/07/abcs-of-credit-reports.html
Is there any way to get a mortgage if you went through foreclosure and have a FICO score below 500 but have 50000 capital to invest?
If you just went through a foreclosure I know of no one that will give you a mortgage for a number of years. I tell people to sell the home before it goes to auction.
Is a fico score of 728 a good or excellent score?
Yes, its a great score!!! Below is a way of interpreting your credit score. Given the current credit score stats, how does this relate to your own personal score? Generally, if your score is higher than 660, you will be considered a good credit risk. If your score is below 620, then you might have a tougher time getting a loan. The following ratings explain the impact of the different score ranges: * 720-850 - Excellent - This represents the best score range and best financing terms. * 700-719 - Very Good - Qualifies a person for favorable financing. * 675-699 - Average - A score in this range will usually qualify for most loans. * 620-674 - Sub-prime - May still qualify, but will pay higher interest. * 560-619 - Risky - Will have trouble obtaining a loan. * 500-559 - Very Risky - Need to work on improving your rating.
Is 530 a good SAT math score?
The national average, per section, is 500. Above average, but really, your scores are good or bad dependent upon where you are applying.
Could you get a mortgage loan with a 512 fico score?
There are a small handful of lenders who will lend down to 500 FICO scores on FHA loans, but you will have to have very good compensating factors and the terms may not be advantageous for a borrower. More lenders will be available and the terms will be better at the tiers of 580, 620 and 640.
What is a credit score scale?
The credit score scale ranges from 0 to 800. Everything above 720 is considered a good credit score. Below 500 is considered unacceptable.
What is the range of credit scores?
The FICO credit score range is between 850 and 300. I rarely seen those two frontiers in real life. ... 850 means you can get a loan to buy entire Tiffany store in Manhattan. 300 ..., well your credit is bad to the point you can't get any. FICO score of 700 and higher means Excellent or Very Good credit. Certain lenders offer better rates and/or discounts if you are over 720, 740, etc. Pity, their greedy loan officers might never share them with you. FICO score from 680 to 699 means Good. Pretty much you can get a normal loan. Translating in layman terms you won't be robbed too bad. FICO score from 620 to 679 is OK. You won't be denied but the terms are not going to be too generous. Still you are officially a nice person. FICO score from 580 to 619 ... . Banks, brokers love you. Want to know why? That is where bad credit starts. But it is not that bad yet. They are still able to get you a loan but on their terms. Fat commissions for them, much more expensive loan for you. Chances are you will take it since you have little choice. And you'll think they your best friends. FICO score from 500 to 580 is where the real trouble starts. Your credit is bad, period. You'll get your loan and you won't like it. But you should take it anyway, because that could be the beginning of your fresh start. Way to get away from bad credit. FICO score of 499 and below ... . My friend, you are in serious need for help for bad credit. There is very little what can be done and while it is still possible, the terms are going to be simply too brutal. The best thing is to try to repair bad credit first - the FICO credit score can be improved!
Is 693 a good FICO score?
Your credit is considered Average.First find out exactly why your score is 693 and try to increase it,Below is a way of interpreting your credit score.Given the current credit score stats, how does this relate to your own personal score? Generally, if your score is higher than 660, you will be considered a good credit risk. If your score is below 620, then you might have a tougher time getting a loan. The following ratings explain the impact of the different score ranges:720-850 - Excellent - This represents the best score range and best financing terms.700-719 - Very Good - Qualifies a person for favorable financing.675-699 - Average - A score in this range will usually qualify for most loans.620-674 - Sub-prime - May still qualify, but will pay higher interest.560-619 - Risky - Will have trouble obtaining a loan.500-559 - Very Risky - Need to work on improving your rating.
What credit score is perfect credit and what score is considered bad credit?
Credit score that is around or more than 700 is considered to be good and score below 500 is considered to be bad. It is always advised to constantly monitor your credit score.
