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amount of debt

tag
Anonymous
Not applicable

amount of debt

What DOES this mean and what do we need to do to improve this statement. We are looking to purchase a home and have a 600 credit score, trying to get to 620.  not sure if this means that we have too much debt or too little?

 

 

Amount of debt

Your total amount of outstanding debt.      " Bad:

Message 1 of 3
2 REPLIES 2
LIGHTNIN
Moderator Emerita

Re: amount of debt

Would need more information?  

 

Mortgage loans for a FHA, you would need a middle FICO score of 620.

Is your 600 score a FICO score? Also is it your middle score?

 

Have you talked with a mortgage lender yet?

FICO Dec 2025 EQ760~~Live below your means and always keep an emergency fund -Love Everybody ~ Big Kenny ~ Big and Rich ~~~~~Credit Scoring 101 - Common Abbreviations - Freq Req Threads - Free Credit Reports - What Steps Do I Take?DV? PFD?
Message 2 of 3
Anonymous
Not applicable

Re: amount of debt

"amount of debt" is too much. 

Message 3 of 3
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