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limitless__ t1_jdt0xyx wrote

With a credit score of 655 you're not likely to get a good rate on any loan. Your best strategy is the aggressively pay off the credit card debt and personal loan ASAP. Your auto loan depends on the interest rate. That will do way more for your credit than taking out even more loans.

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CommunityKarma23 t1_jdtiub7 wrote

If you’re seeing 655 scores on credit karma your mortgage score are most likely anywhere from 40-60 points lower.

The bureaus use a different scoring model for consumer scores (what credit karma is showing) vs mortgage scores.

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Vacillating_Fanatic t1_jdtqwyf wrote

Fwiw, my score was significantly lower on credit karma than what the mortgage lenders showed. I've checked independently since then, and the credit karma score has consistently been much lower than my actual score (as in around 50-100 points off).

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SleepyHobo t1_jdtvnr3 wrote

Found this to be the same when applying for car loans and credit cards as well. Not 100 points but 30-60 points.

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Virgil_hawkinsS t1_jdu9zqt wrote

Same boat. I was shocked when I got my first big boy chase card a few years ago and my score was almost 100 points more than credit karma.

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kubatyszko t1_jdtvv6n wrote

Needs at least 730 for the best rates

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gnerfed t1_jdu0rbv wrote

It certianly isn't 730. Been a while since i was in mortgage processing but it was eithe 720 or 740.

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2ears1mth t1_jdun6kw wrote

Anything 740 and above is considered top tier credit. You can easy get a good “rate” with a lower score though and with FHA anything 640 and above will get you the same pricing. There are no adjustments on pricing with FHA if your score is 640 or above.

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whitney_k t1_jduwg8j wrote

Best rates are usually 740 or even 769, but going FHA, a borrower at 640 can do okay. A lender is where they need to begin this journey.

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sjb-2812 t1_jdujazm wrote

>With a credit score of 655 you're not likely to get a good rate on any loan

Perhaps a bit OTT when the total is out of 710?

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