What Can I Get With A 640 Credit Score?

What Can I Get With A 640 Credit Score?

How good is a 640 credit score?

According to FICO, the average credit score in April 2016 was 699, so a FICO score of 640 is below average.

Generally, “fair” credit scores range from 620 to 679.

Applicants with a score below 620 are considered high-risk, and will have trouble qualifying for a home loan.

Can I get a personal loan with a 640 credit score?

Prosper is an online marketplace lender that provides personal loans to borrowers with a credit score of at least 640. Their loan amounts range from $2,000 to $35,000. If your score is slightly lower, you might still be able to apply and qualify for a smaller personal loan.

Can I buy a house with a 640 credit score?

Credit scores and mortgage loans: If your score is below 620 to 640: An FHA (Federal Housing Administration) home loan is your best option because most lenders won’t approve a conventional loan for borrowers with a credit score below 640. However, your mortgage insurance is likely to be higher with an FHA loan.

What grade is a 640 credit score?

What is a 640 Credit Score? Your credit score is a three-digit number, made up by a variety of factors, that gives lenders a snapshot into your creditworthiness. In this article, we’ll look at the credit score of 640, whether that’s good or bad, what you can expect with that score, and more.

Photo in the article by “Wikimedia Commons” https://commons.wikimedia.org/wiki/File:Credit-score-chart.svg