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What can I get with 648

Regular Contributor

What can I get with 648

I've raised my FICO to 648. What can I expect to get in a mortgage now or should I wait until it gets to a higher number. What should be my realistic target number?
7 REPLIES
Moderator Emeritus

Re: What can I get with 648

Score isn't everything. We need more details.
Regular Contributor

Re: What can I get with 648

Its funny how people think the score is everything! Depending on your credit histroy and a few other things... You can still get a FHA loan with a low rate even if you have a low fico. I have a borrower now that have a 636 Fico and we are doing a 97 percent loan at 6.625. Shop around and remember that you need more than a fico to buy a home.Smiley Happy

Tuscani wrote:
Score isn't everything. We need more details.



Moderator Emeritus

Re: What can I get with 648



OneMortgageGuy wrote:
Its funny how people think the score is everything! Depending on your credit histroy and a few other things... You can still get a FHA loan with a low rate even if you have a low fico. I have a borrower now that have a 636 Fico and we are doing a 97 percent loan at 6.625. Shop around and remember that you need more than a fico to buy a home.Smiley Happy

Tuscani wrote:
Score isn't everything. We need more details.





I know!
 
And wow, nice deal!
Regular Contributor

Re: What can I get with 648

I was just wanting a general idea. We make about 125,000.00 per year and are looking at buying in the next 6 months. We will have about a 20% total of utilized debt to credit limit. WE alos will have about 10% debt to income or less. So what might we expect? I still wonder what should be realistic FICO score goal. I know that the score isn't everything but what score should we realistically shoot for that might make a mortgage company drool over us as a customer.
New Member

Re: What can I get with 648

2 years ago I got a $105k FHA loan at 6% fixed for 30 years (I think I was pre-approved for $120-130k). My score was at 620, I made $45k. I had some lates which I PIF and 1 CO, but no current CC debt.
Regular Contributor

Re: What can I get with 648

Get your UTL down to 1-3% and your score will go up more than you might think.
EX. 780 TU 794.
Regular Contributor

Re: What can I get with 648

With your score you can get 100 percent now but Im not sure about your credit or income.