I ordered my free annual credit report as recommended and am now wondering how I should interpret it. Any help out there? Thanks!

"Good" can be interpreted a number of ways. This is how I would break it down:

720+ is excellent. You'll be able to get the best rates and terms with a score over 720.

680-719 is good. For things like mortgages you'll still be able to get great terms with a score in this range, but if you have special circumstances like needing to state your income (due to self-employment, etc) then you won't get as good of a rate as you would have with 720+.

620-679 is fair. Your options start to narrow in this range and lenders begin to tighten up.

619 or less is where you really start to get unfavorable terms. There are exceptions to this, but in general I'd say you don't want to be this low.


Hope that helps!

Perfect. My opinion as well Erik.

But, if you want 0 interest with Ford then you need a 730. lol

__________________
Greg Phillips
Manager
Fairfield Mortgage Company
"I can lend in 50 states"
Home Blog Forums

Great information - thank you!

__________________
“You are the same today that you are going to be in five years from now except for two things: the people with whom you associate and the books you read.” -- Charles Jones