FICO of 620 seems to be a magic FICO to get good rates. Is that correct?

A 620 is on the bottom rung for credit scores. Generally a 620 to 640 is required but I can currently do an FHA loan with as low as a 600 score. I am licensed in California so contact me and I would be happy to pre-approve you. Gregorio Denny - WeFixRates.Com - 800-335-6897

A 619 score would NOT be classified as good. For the vast majority of lenders and programs, you would be denied based upon that score. Remember, just because you meet a minimum score, does NOT mean approved! Here is a basic run of credit scores: Miserable credit score: Less than 500. Bad credit score: 500 to 579. Poor credit score: 580 to 619. Average credit score: 620 to 679. Good credit score: 680 to 719. Excellent credit score: 720 to 740. Best of the best score: 741 and up.

On top of what the other lenders have already stated which is all true you can do a Veterans Loan with a mid score of 620 if you have VA status or if someone going on the loan does-but they would have to fully qualify as well as yourself. A good way to get your credit scores boosted is paying your credit card- revolving lines of credit down to 15-30% of the credit limit then doing a rapid re-score to have it reflect your scores within 72 hours. I can help you out with this if you would like. better scores help you qualify for better mortgage products and rates and also everything else that you are going to need to obtain when purchasing a home like a lowes and or home depot card!

Keep in mind that your credit score requirement is based on your middle score. So if you have 580-599-619 the 599 is the middle score lenders use to qualify an applicant. Good Luck

We can offer low FHA rates with scores down to 600. Please call me at 866-766-1918 and I'll be glad to give you a quote.

Hi Janice. The answer to your question is that 619 is not a good credit score, howver, you can find financing with that score. My suggestion would be to see if you could do something to increase the middle score to 620 or higher.If you can get the middle credit score of all borrowers over 640, you would receive a pretty good interest rate. If you are looking to purchase a home, USDA does not have ANY score requirements. I can be reached at 614-395-2393 if you need anything further. Patrick McCarthy