What does 1 683 credit score mean. Good? Bad? I am looking to buy a home. I (we, my husband and I) filed bankruptcy over a year ago. Never were mortgage, utility payments late.
It's about average, and considering you filed for bankruptcy a year ago, that's actually outstanding. While mortgage lending is obviously a lot more stricter today, it's more than a matter of just a straight number. They really dig in deep, and look at your overall financial situation. I've seen people with scores of 750+ get turned down for mortgages because their income:debt ratio was poor. If you find a good reputable mortgage broker, they can work with you and see where you currently stand in getting a mortgage, and what you'll need to do to improve it.
It's about average, and considering you filed for bankruptcy a year ago, that's actually outstanding. While mortgage lending is obviously a lot more stricter today, it's more than a matter of just a straight number. They really dig in deep, and look at your overall financial situation. I've seen people with scores of 750+ get turned down for mortgages because their income:debt ratio was poor. If you find a good reputable mortgage broker, they can work with you and see where you currently stand in getting a mortgage, and what you'll need to do to improve it.
Hope this helps.