debt<\/u><\/a> compared to total available debt, the types of monies: revolving credit vs. installment debt outstanding) is all reviewed and a credit score is assigned to each borrower to reflect the anticipated repayment.\u00a0<\/p>The higher your score, the less risker you are to the lender usually resulting in better loan terms for the borrower.\u00a0<\/p>
Though not impossible scores below 620 are difficult; scores from 620-660 are considered mediocre; good scores are from 660-720, and above 720 are considered excellent.\u00a0<\/p>
Your loan officer will look to run your credit so to see what challenges could present themselves.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t