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“In my experience, having your credit run all over town can lower your score 5-10 points, but one pull has little to no impact on score,” says Steve Hill of SBC Lending, a brokerage in ...
Your credit score is the single most important factor in determining your mortgage rate – and whether you get approved at all. Generally, the best deals go to borrowers with credit scores of 740 ...
Having said that, while 10 different credit inquiries counting as one is certainly a helpful rule, it's important to note that even one inquiry can have a minor negative impact on your score.
The Federal Housing Administration (FHA) insures FHA loans, which allows mortgage lenders to accept a credit score as low as 580 with a 3.5 percent down payment, or 500 with a 10 percent down payment.
The key takeaway is that there's more to mortgage approval than just your credit score. It's important to be a solid all-around applicant. Alert: highest cash back card we've seen now has 0% intro ...
FHA loans (500 to 580): You might qualify for an FHA loan with a credit score of 500 to 579 with a 10% down payment. ... Otherwise, having open disputes might complicate the mortgage approval.
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