Lenders Will Not Lend To Those Possessing A 550 Credit.

550 credit score mortgages are especially tricky because the loan values are typically much higher than other types of loans. What does a 550 credit score mean? The minimum credit score is 500.

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A credit score generally falls in the range of 300 to 850, and a 550 credit score is below average. A credit score of 550 is higher than the lowest credit score of 300, but it’s still a long way off from the highest credit score of 850. As you can see below, a 550 credit score is considered poor.

As You Can See, With This Credit Score You Can Expect To Receive A 8.10% Apr On A New Car Auto Loan, A 21.41% Interest Rate On A Credit Card, And A 27.19%.

Fha loans are designed for borrowers with low to moderate income. A 550 credit score can be a sign of past credit difficulties or a lack of credit history. These mortgages require lower credit scores and down payments than do most conventional.

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Can i get a personal loan or credit card w/ a 550 credit score. Fico scores range from 300 to 850. While care credit does not directly state the minimum required credit score, users on myfico state having been approved with credits scores in the 600’s.

A 550 Credit Score Can Affect Whether You Can Borrow Or Not, How Much You Qualify For, The Rates You Are Offered, The Amount Of Time You Can Take To Repay A Loan, And Whether You Need To.

Can i get a va loan with a 550 credit score? When you want to buy a house and need to be approved for a mortgage, or, need a new ride. The va does not support the loan, but it establishes the requirements that lenders must follow to qualify for a va loan.