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Boost your Credit Score before applying for a mortgage.

Credit Ratings and What They Mean

Lenders typically use this rating chart to determine where you stand in terms of your credit score and what rates you will receive. Excellent (Scores 780+) – Individuals with a rate of 780 or over will enjoy the best interest rates on the market. They also will typically always be approved for a loan. Very Good (Scores 779-720) – This is considered near perfect and individuals with a rate in this range will still enjoy some of the best rates available. Good (Scores 719-680) – An individual who has a credit score that falls within this range has good credit and will typically have little to no trouble getting approved for the new credit. Average (Scores 679-620) – While this is still a good range, individuals with this score will receive slightly higher interest rates than those with higher scores. According to Equifax, at the end of 2012, the average national credit score was 696. Poor (Scores 619-580) – Scores in this range indicate the individual to be a high risk. It may be difficult to obtain loans and if approved, they will be paying a lot in terms of interest. Very Poor (Scores 579- 500) – Scores in this range are rarely approved for anything, but credit can be repaired. Terrible (less than 500) – Individuals whose credit scores are less than 500 will not get approved for new credit and should seek credit improvement help.​