Credit Scores FHA Loans  
 

 
FHA Loans

 

Credit Scores

Your credit score is nothing more than a mathematical formulas that the credit agencies developed based on yours and everyone else's credit purchases. They give a score ( an actual number) to how well your pay your credit debts, everything from your Gas credit card to your home mortgage.

Each Credit Agency has there own scoring system but your credit score from one agency to the other are usually with 30 points of each other.

To see what possible Mortgage interest rate you could be getting you need your Credit Score (you can get from any of the 3 major credit agencies).

These interest rates are from April 2005 so you will need to adjust to current rates, the credit scores remain.

Credit Score  Avg Rates
760- 850 5.691%
700- 759 5.913%
680- 699 6.090%
660- 679 6.304%
640- 659 6.734%
620- 639 7.280%
600- 619 7.101%
580- 599 7.408%
550- 579 7.897%
500- 549 8.437
Keep in mind that with a FHA Insured Mortgage loan you can usually get a better interest rate if you have some credit issues.
 
   
 


 
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