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mortgage with ratings of...

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Anonymous
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mortgage with ratings of...

I am looking at a possible move and just pulled my scores. At Equifax it is 684, at Trans it is 639 and at Experian it is 646. I have a home now, but bought it on an REC about 7 years ago. I should have a decent amount down (as I don't owe that much on my house now and would be able to sell it for more than what I paid for it). My income is around $70k a year and I am looking at a property that is around $125k (I hope to put at least 20% down). Any help on what I may be looking at for an interest rate? When you go in for a mortgage, do the lenders favor one reporting agency, or do they average them? Any help would be greatly appreciated.
Thanks.
 
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antredd67
Contributor

With 20% down you shouldn't have a problem

With your high income of 70k , 20% down, and middle fico score of 646, you shouldn't have a problem getting a loan. Because your middle score is what the lender uses in deciding what interest rate you qualify for, and I was told it depends on the state you live in too, you should be able to get an interest rate in the high 6%. 
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