Most potential homeowners think that in order to purchase property they need an excellent credit score—generally considered a FICO score of 750 or higher. But the truth is, “just average” credit can be enough to get you into the house of your dreams.
According to theMarch 2018 Origination Insight Reportfrom Ellie Mae, the average FICO scores for approved loans are 722. This number is slightly higher for conventional loans (at 752) and slightly lower for FHA loans (at 677).
You don’t need perfect credit to get a mortgage! If your credit is hovering somewhere in the “just average” range, you can secure the funding you need to buy a home, especially if you’re open to exploring non-traditional options.
Author:Michelle Fish Phone: 919-721-1434 Dated: October 23rd 2018 Views: 160 About Michelle: ...
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"I wanted to say what a joy it was to work with Bonnie! My husband and I met her when we were looking to buy our first home in 2011. She was familiar with the area we wanted to move to and was so helpful in making our first buying experience easy. We enjoyed her so much we reached out to her even though she changed companies so that she could help us sell our home. She was again, wonderful. She was always quick to respond and answered all of our questions. She addressed our concerns and gave great advice when we needed it. My husband and I plan to buy a house in about 18 months to two years, after I graduate college. When we do, we will be connecting with her again if we plan to do it in the area. I look forward to working with her again.