What Credit Score Is Acceptable For Applying Mortgage Loan?


2 Answers

Aisha Profile
Aisha answered
Credit scores generally range from 300s to the mid 800s. The following table will give you an idea of what your score tells lenders. But keep in mind that it is a general calculations:

Above 730 - Excellent credit
700 - 729 - Good credit
670 - 699 - the lender will take a closer look at your file
585 - 669 - Higher risk; you will not be eligible for best rates and products.
Below 550- The credit options will be limited or not available.
Anonymous Profile
Anonymous answered
The bank has just informed me that I have a credit score of 760 but questioning why I have changed jobs frequently ~~ I am a self employed individual~~and a private contractor,  Will this impact my chances of obtaining the mortgage?

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