Credit Score of 725, should I be able to qualify for the lowest mortgage rates?

Maybe.

Credit score is one key variable.

What you earn, how you earn it and how long you have had your present income level also matter.

The size of the loan (absolute size) plus the loan to value (LTV - debt level relative to the value of the property) is very important. People who want to borrow 60% of what the property is worth will generally get a better rate compared to the person who wants 100%.

How well and how much documentation you supply concerning your assets and income matters.

Your present debt levels make a big difference. If you have up to your eye balls in debt vs. have no debt is going to shift the interest rate.

Even the type of property. A single family home vs. an investment property will make a difference. A single family vs. 4 unit building can matter. A non-conforming condo will attract a higher interest rate.

The term of the loan will influence the interest rate. 15 year, 30 year, ARM with a 3 year fixed vs. 7 year fixed are examples for when rates will vary

There are a number of variables. Your credit score is a good sign as it implies a number of things about you.

Good luck. You can get a pretty good handle on average rates using the web or a local paper as many publish a table of rates.

Credit Score of 725, should I be able to qualify for the lowest mortgage rates?

That%26#039;s a pretty good score. I don%26#039;t know about getting the very lowest mortgage rates, but you should certainly get good deals.

Credit Score of 725, should I be able to qualify for the lowest mortgage rates?

Yes, if you also have had a good job for a couple of years.

Credit Score of 725, should I be able to qualify for the lowest mortgage rates?

Excellent credit rating! You should have no problem getting credit. You should also take into consideration your current bills. Can you afford to make a mortgage payment and your bills, as you probably know, you should see if you are able to make your bills (i.e. rent, utilities, etc)....don%26#039;t cut yourself short.

Credit Score of 725, should I be able to qualify for the lowest mortgage rates?

You won%26#039;t qualify for the %26quot;lowest,%26quot; but you will come very close. Other issues in qualifying are property type, savings, stability, and ratios (both income as well as LTV -- loan to value). Assuming that all of these are ideal, then you%26#039;ll be within .125% of the best available rates. Lenders now-a-days offer incentives to borrowers by discounting rates/costs for those with credit risk scores over 750. This translates to .5% reduction in closing costs (e.g. on a $100,000 loan amount this is $500).

No matter what, however, you%26#039;ll find someone who will approve you. Try IndyMac Bank; they have the best available rates and costs.

Credit Score of 725, should I be able to qualify for the lowest mortgage rates?

understand your credit history. you can have a credit score of 725 but you may only have the borrowing power of someone how works part time at McD%26#039;s. 725 is great score, but 725 with 3 credit cards and an average payout of 500 to 725 dollars of month and you got every bank in the country looking to give you everything they can possibly offer including their first born

Credit Score of 725, should I be able to qualify for the lowest mortgage rates?

A FICO score of 725 will get you a very good rate. If you couple that with a 10% down payment or so you should be in the driver%26#039;s seat. Don%26#039;t forget there is more to it than the rate. Closing costs, points etc. will more than make up for a lower rate. Almost all of those are negotiable.

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Credit Score of 725, should I be able to qualify for the lowest mortgage rates?

Your credit is considered excellent these days. You are definitely qualified for an interest-only loan (the type of loan that the entire payment is tax deductible). Where are you looking to locate? I may be able to help you. Send me an email---mgcashin@yahoo.com---. Remember to include your corresponding email address. I think I can really help you.