Can I buy a house with 717 credit score? (2024)

Can I buy a house with 717 credit score?

For one thing, you're unlikely to qualify for a lender's best mortgage rates. Lenders typically reserve their top rates for borrowers with very good or exceptional credit scores. However, with a 717 credit score, you should qualify for rates on-par with national averages.

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What kind of loan can I get with a 717 credit score?

What Does a 717 Credit Score Get You?
Type of CreditDo You Qualify?
Home LoanYES
Personal LoanYES
Auto LoanYES
No Annual Fee Credit CardYES
2 more rows

What is the minimum credit score to buy a house?

Generally speaking, you'll likely need a score of at least 620 — what's classified as a “fair” rating — to qualify with most lenders. With a Federal Housing Administration (FHA) loan, though, you might be able to get approved with a score as low as 500.

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How good is a credit score of 717?

Your score falls within the range of scores, from 670 to 739, which are considered Good.

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What credit score do I need to buy a $250000 house?

Conventional loan | Credit score: 620

To qualify for a conventional loan, you'll need a credit score of at least 620, though some lenders may choose to approve conventional mortgage applications only for borrowers with credit scores of 680 and up.

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Can I get a mortgage with a 717 credit score?

You will likely be offered the lowest rate available. Very good (700-760) – Your credit score may have a minimal impact on your interest rate. You could be offered interest rates 0.25% higher than the lowest available. Good (660-699) – Your credit score may have a small impact on your interest rate.

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What credit score do you need to get a $30000 loan?

This depends on your financial situation. For those with a good credit score — around 670 and up — a $30,000 personal loan may be pretty easy to get.

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What credit score is needed to buy a $200 000 house?

Most conventional loans are backed by mortgage companies Fannie Mae and Freddie Mac. Fannie Mae says that conventional loans typically require a minimum credit score of 620.

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What credit score is needed for FHA loan?

To qualify for an FHA-insured loan, you need a minimum credit score of 580 for a loan with a 3.5% down payment, and a minimum score of 500 with 10% down. However, many FHA lenders require credit scores of at least 620.

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What is the minimum credit score for a FHA loan?

What is required for FHA loan qualification? First, we'll give you a quick overview, then we'll drill down into each of these FHA loan requirements: Credit score: Minimum credit score of 580 (or 500 with a higher down payment) Down payment: 3.5 percent (or 10 percent with a credit score between 500 and 579)

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How to improve 717 credit score?

6 easy tips to help raise your credit score
  1. Make your payments on time. ...
  2. Set up autopay or calendar reminders. ...
  3. Don't open too many accounts at once. ...
  4. Get credit for paying monthly utility and cell phone bills on time. ...
  5. Request a credit report and dispute any credit report errors. ...
  6. Pay attention to your credit utilization rate.

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How to raise by 717 credit score?

How To Improve Your Credit Score
  1. Read Your Credit Report. ...
  2. Pay Your Bills on Time. ...
  3. Set Up Payment Plans With Creditors. ...
  4. Limit Applying for New Credit. ...
  5. Consider Keeping Old Accounts. ...
  6. Keep Credit Utilization Low. ...
  7. Use Different Types of Credit.

Can I buy a house with 717 credit score? (2024)
Can I get a car loan with 717 credit score?

The “prime range” runs from 661 through 780. If your credit score is anywhere between 700 to 709, you are in the middle of this segment, and you can get competitive rates to finance your vehicle. However, these depend on your shopping habits, income, and debt-to-income ratio.

What salary do you need for $250000 mortgage?

Based on these figures and the 28% rule, you would need to earn about $66,903.57 per year to afford a $250,000 home with a 20% down payment — or about $81,171.43 per year to afford it with no down payment.

What is the minimum down payment on a $250000 house?

The minimum down payment to buy a home with an FHA loan is just 3.5 percent of the home's purchase price. That means the down payment for, say, a $250,000 home would be $8,750 with this type of loan.

What is the average house payment on a $250000 home?

Monthly Payments for a $250,000 Mortgage

Assuming a 30-year fixed term and an interest rate of 7%, a $250,000 mortgage monthly payment would amount to $1,663 for the loan principal and interest. Choosing a 15-year loan term with a 7% interest rate would translate to a monthly mortgage payment of $2,247.

How much of a loan can I get with a 770 credit score?

If you're more interested in a personal loan, you could borrow up to $100,000. The best personal loans for a 770 credit score are from LightStream because they offer $5,000 - $100,000 in funding with APRs of 7.49% - 25.99% and repayment periods of 24 - 144 months.

Is 715 a good credit score to buy a house?

Home loans

Borrowers with a 620 credit score should typically qualify for a conventional loan, but those with a 740 or higher will likely get a better interest rate. With a 715 score, you're well above that bottom line but still won't get the lowest rates.

Is 770 a good credit score to buy a house?

A 770 credit score is often considered very good — or even excellent. A very good or excellent credit score can mean you're more likely to be approved for good offers and rates when it comes to mortgages, auto loans and credit cards with rewards and other perks.

What is the monthly payment for a $30000 loan?

The monthly payment on a $30,000 loan ranges from $410 to $3,014, depending on the APR and how long the loan lasts. For example, if you take out a $30,000 loan for one year with an APR of 36%, your monthly payment will be $3,014.

How much is the monthly payment on a $30 K loan?

Monthly payments for a $30,000 personal loan
Loan durationAverage monthly payments ($30,000 loan)
Poor creditExcellent credit
13–24 months$1,441.88$1,351.21
25–36 months$1,017.58$938.97
37–48 months$852.29$758.75
1 more row
Mar 15, 2024

How much can I get approved for with 700 credit?

You can borrow from $1,000 to $100,000 or more with a 700 credit score. The exact amount of money you will get depends on other factors besides your credit score, such as your income, your employment status, the type of loan you get, and even the lender.

How much income do you need for a $300000 mortgage?

So, to estimate the salary you'll need to comfortably afford a $300,000 home purchase, multiply the annual total of $24,000 by three. That leaves us with a recommended income of $72,000.

How much is a downpayment on a 200K house?

How much is a down payment on a 200K house? A 20% down payment on a 200K house is $40,000. A 5% down payment is $10,000, and a 3.5% is $7,000. Talk with various lenders to see what you might qualify for.

How much is a 200K mortgage per month?

For a $200,000, 30-year mortgage with a 6% interest rate, you'd pay around $1,199 per month. But the exact cost of your mortgage will depend on its length and the rate you get. Aly J. Yale is a personal finance journalist with work featured in Forbes, Fox Business, The Motley Fool, Bankrate, The Balance, and more.


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