Acceptable credit score for mortages

Property of the buyer to find a mortgage in mind that their results as a credit card in the process of buying the apartment for his decision, the interest rate, money supply. It 'hard to understand how lenders determine credit scores and more importantly, what is considered acceptable for evaluation of mortgage credit. The result is an amount that lenders use the approximation of loans at risk, and experience has shown that recipients with a more credit notes are not neglected payments for a loan.


Credit values are not in isolation, but after the introduction of data in the credit report is in another part of the software used to present to lenders of certain factors (such as income, occupation history and the nature of the claim is in research), the final number was issued. The three Chief Credit Reporting
The institutions do not necessarily like scoring software, so it is likely that other lenders have slightly different values.

What are the results acceptable mortgage?

28% - Previous loan commitment payment history
25% - The total sums owed by you.
23% - How long you have held a credit history.
12% - Categories of previous credit applied for.
12% - New applications applied for

Credit scores generally range from 320 to 850 average is about 750. The more points, more credit risk and conceived as a result of increasing interest rates are definitely worse. Credit with a loan of 700 number of more traditional financing are offered more choice and competition of interests, but do not be discouraged if the values are less because there is a mortgage product for nearly everyone.

If you are in doubt, contact your lender to explain how it is composed of your customer.