Credit Score Case Study: An Aspiring Investor Tackles Debt, Month Two
Last month, I gave you some background on James and introduced you to his quest to improve his credit. He’d like to start investing in real estate, and his low credit score is one of the things preventing him from getting a loan.
When we checked in last month, his credit score was 617. On a scale of 300–850, that doesn’t seem too bad, but many lenders won’t even consider you for a mortgage if you have below a 620 score. Even if they do consider you for a loan, it isn’t going to be at the best rate. James hovers near the mortgage minimum, but would like to raise his score considerably.
What is an Average Credit Score?
With credit scores ranging from 300 to 850, a score of 617... http://flip.it/bRCC3
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