1 of 14 photos Pacific BeachCA For Sale $249,9001 Beds / 1 Baths
Unbelievable location only 3 blocks to the beach! This condo has everything you need with granite counter tops, travertine in the bathroom, maple flooring, and cherry cabinets...
1 of 1 photos San Diego For Sale $279,0004 Beds / 2 Baths
4BR/2.5BA
From the front porch you can see the OCEAN! Handyman special - bring your tool belt and fix this home up! Large back yard - for you to create your own private haven...
1 of 14 photos San DiegoCA For Sale $299,9993 Beds / 1 Baths
FREE 24 HOUR RECORDED INFO AT 1-800-433-0203 EXT. 7773
This 3 bedroom, 1 bath home is a beautiful blend of classic 1940''s charm and modern upgrades...
1 of 9 photos EscondidoCA For Sale $325,0004 Beds / 2 Baths
Great opportunity to customize to your taste and style. Home is ready for your TLC to make this YOUR DREAM HOME! You can easily add another bedroom and bath above the garage making it a 5 bed/3 bath...
1 of 7 photos SanteeCA For Sale $389,0003 Beds / 4 Baths
Must see the breath taking views in Northstar at Sky Ranch this complex is nestle in the hills of Santee. You will feel at home in this upgraded townhome...
1 of 9 photos San DiegoCA For Sale $399,0002 Beds / 3 Baths
REDUCED! This townhome is located in a quiet complex Chateau Village. This complex features pool, spa and tennis courts. You will feel the openness with the vaulted ceiling...
1 of 2 photos EncinitasCA For Sale $429,0003 Beds / 2 Baths
This single story home is located in Village Park. This is a great neighborhood with parks and walking trails. The home has a fireplace in the living room to cozy up to with your friends and family...
1 of 25 photos EscondidoCA For Sale $1,150,0004 Beds / 6 Baths
Luxury Defined-elevated and Private Architectural Gem with dark bottom pool with waterfall, swim ledges and separate spa with waterfall and views to Catalina Island, when clear...
1 of 22 photos CarlsbadCA For Sale $1,950,0004 Beds / 4 Baths
Sensational views and a sense of privacy elevated from street with entry garden and mature palms. Side lot is mostly vacant with perimeter landscape plus multiple fruit trees, olives and palms...
1 of 15 photos San DiegoCA For Sale $2,075,0003 Beds / 3 Baths
Designer''s own home with many customized features showcasing indoor\/outdoor living with San Diego''s climate and views taking full advantage of this elevated, private lot walking distance to Old ..
Did you know that 75% of all mortgage lenders use a three-digit credit score to determine your loan eligibility This score is based on the information contained in your credit report. And the interest rate you will be charged is based on your credit score, so raising your credit score as little as 15 points could result in a lower interest rate and thousands in savings. You can save anywhere from a few hundred dollars in credit card interest charges, thousands of dollars on your next car loan, and tens of thousands of dollars on a mortgage loan simply by improving your credit score as much as possible.
The information below offers general guidelines as to what your credit score might be. Each lender sets its own guidelines for approving loans and issuing credit. For this reason, the information below offers only general guidelines. Your debt-to-income ratio also plays a role in determining whether or not you will be issued credit. Some lenders require a debt-to-income ratio that may be higher or lower than those stated below. See bottom of this page to find out how to calculate your debt-to-income ratio.
The information below is based on the FICO scoring model which ranges from about 375 to 900. Other lenders might use their own in-house scoring systems or another scoring model. General rules to determine your credit score and creditworthiness are as follows
A rating Credit score 660 or higher -- You can easily obtain financing at the best rate; you can get approved for a credit card online in a few seconds. Note that a score above 700 means you have extremely good credit.
Typical debt- to- income ratio Below 35%
Mortgage You have not been late with a payment in the last 24 months
Installment loan You have been 30 days late making payments 0 or 1 time within the last 12 to 24 months
Revolving credit You have been 30 or 60 days late with a payment 0 or 1 time in the last 12 to 24 months
Additional requirements Good/excellent credit during the last 2 to 5 years; no bankruptcy within the last 2 to 10 years
B rating Minimum credit score 620 You can get approved, but not at lowest rate. You can get credit cards and such, but at a higher rate than someone with an A rating.
Typical debt-to-income ratio Around 50%
Mortgage You have been 30 days late with a payment 2 or 3 times in the last 12 months
Installment Loan You have been 30 days late with a payment 2 to 4 times during the last 12 months
Revolving credit You have been 30 days late with a payment 0 to 2 times in the last 12 months
Additional requirements You have no 60-day late mortgage payments; if filed bankruptcy, it must be discharged 2 to 4 years ago
C rating Minimum credit score 580 Have trouble getting approved. Very high rates.
The lender might ask you to get someone to co-sign for you.
Typical debt-to-income ratio 55% or higher
Mortgage You have been 30 days late with a payment 3 or 4 times in the last 12 months
Installment Loan You have been 30 days late with a payment 4 to 6 times during the last 12 months
Revolving credit You have been 60 days late with a payment 2 to 4 times in the last 12 months
Additional requirements If you filed bankruptcy, it was discharged 1 or 2 years ago
Mortgage You have been 30 days late with a payment 2 to 6 times in the last 12 months; and 60 days late 1 to 2 times during the last 12 months
Installment Loan You have a few 90 and 120 day late payments during the last 12 months
Revolving credit You have a few 90 and 120 day late payments during the last 12 months
Additional requirements If you filed bankruptcy, was discharged within last 12 months
E rating Credit score under 550 Unlikely to be approved.
Typical debt-to-income ratio Around 65%
Mortgage You have a pattern of 20, 60, 90 and/or 120 day late payments
Installment Loan You have a pattern of 20, 60, 90 and/or 120 day late payments
Revolving credit You have a pattern of 20, 60, 90 and/or 120 day late payments
Additional requirements You may have a current bankruptcy or foreclosure
How to Calculate Your Debt-to-Income Ratio
The formula for calculating your debt-to-income ratio is monthly fixed expenses divided by gross monthly income (before taxes and deductions). Monthly fixed expenses include all debt, such as the following house payment or lease, credit card and other revolving credit balances that it will take you longer than 6 months to pay off; car payments, alimony, child support, etc. Do not include grocery, telephone, and utility bills or any debt that will be paid off in the next few months.
Sample calculation
Gross monthly household income $5,000
Fixed expenses $1,560
house payment $540.00 car payment $370.00 credit cards $250.00 child support $400.00
Debt-to-income ratio calculation
$1,560
$5,000 31%
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