Mortgage Score - Law Dictionary Search Results
mortgage score
mortgage score a score based on a combination of information about the borrower that is obtained from the loan application, the credit report, and property value information. The score is a comprehensive analysis of the borrower's ability to repay a mortgage loan and manage credit. Source: U.S. Department of Housing and Urban Development ...
a loan or a paper
a loan or a paper a credit rating where the FICO score is 660 or above. There have been no late mortgage payments within a 12-month period. This is the best credit rating to have when entering into a new loan. Source: U.S. Department of Housing and Urban Development ...
b loan or b paper
b loan or b paper FICO scores from 620 - 659. Factors include two 30 day late mortgage payments and two to three 30 day late installment loan payments in the last 12 months. No delinquencies over 60 days are allowed. Should be two to four years since a bankruptcy. Also referred to as Sub-Prime. Source: U.S. Department of Housing and Urban Development ...
c loan or c paper
c loan or c paper FICO scores typically from 580 to 619. Factors include three to four 30 day late mortgage payments and four to six 30 day late installment loan payments or two to four 60 day late payments. Should be one to two years since bankruptcy. Also referred to as Sub - Prime. Source: U.S. Department of Housing and Urban Development ...
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