What is a good credit score for a mortgage?

A good credit score for a mortgage in Texas is generally thought to be around 680. Any score below this is considered subprime and borrowers may have difficulty qualifying for a loan. Borrowers with scores above 680 may qualify for better interest rates and programs. Mortgage lenders review credit reports to determine a borrower’s creditworthiness and ability to pay off a loan. Score ratings range from 300 to 850, so the closer to 850, the better. Generally, borrowers with scores over 680 are eligible for most loan types and are offered lower interest rates, while scores below 680 may be subject to higher interest rates or require additional documentation to qualify. FICO score is the most common metric for lenders to use when evaluating creditworthiness. FICO scores are based on consumer financial information, including payment history, amounts owed, length of credit history, and new credit inquiries. They typically range from 300-850, and higher scores indicate better creditworthiness. When it comes to mortgages, a credit score of 680 or higher is considered good and will help you qualify for the best interest rates, while a lower score may mean more expensive interest rates or a lower loan amount. To ensure a good credit score, borrowers should make sure to make loan payments on time and minimize high credit card balances or debt-to-income ratios.

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What is a good credit score for a mortgage?

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