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672 Credit Score Mortgage

By Tusher Ahmed

Are you looking to buy a home but have a credit score of 672? Don’t worry! With the right mortgage, you can still achieve your homeownership goals. A 672 credit score mortgage is one option you may consider to make your dream home a reality.

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2. Is 672 a good credit score? | Lexington Law

https://www.lexingtonlaw.com/education/score/672
Is 672 a good credit score? | Lexington LawOct 11, 2021 ... A conventional mortgage usually requires a minimum credit score of 620. This means that with a score of 672, you have a high probability of ...

What is considered a 672 credit score?

A 672 credit score falls on the higher end of Fair for most traditional lenders which generally range from 300-850. It is close to Good range (670-739) with some lenders.

Should I be concerned if my credit score is only 672?

While you may have slightly lower access to favorable terms when it comes to mortgages or other loans, the fact that it’s in the Fair range means it won’t majorly impact your ability to qualify for financing.

Can I get approved for a 672 credit score mortgage?

Yes, depending on your overall financial situation and qualifications, you may still be able to get approved for a mortgage with a 672 credit score. Your lender will also likely take into consideration other factors such as employment history and income when making their decision.

What type of loan should I get with a 672 credit score?

The type of loan you should get largely depends on how much money you need, what kind of terms are offered by lenders, and other factors like your debt-to-income ratio and down payment amount. It would be best to work with an experienced lender who can offer tailored guidance based on your individual circumstances.

Are there specialized mortgages specifically designed for people with low credit scores?

Yes, there are various programs available that offer more flexible requirements and lend more readily towards people who have lower than average scores such as those in the 600 range or below. Speak with your lender about what options they can provide in this case.

Conclusion:
While having a 672 credit score does not automatically guarantee approval for any particular type of loan, it does put one in an adequate position among many traditional lenders and could potentially open up pathways towards getting approved for mortgages or other financing options at competitive rates if additional qualifications are also present. If you’re planning ahead and want to find out more information about how best to finance a new house purchase, reach out to specialist lenders now so they can help guide you through the process.

Tusher Ahmed

Our correspondent

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