What does a 696 credit score mean?
A 696 FICO® Score is Good, but by raising your score into the Very Good range, you could qualify for lower interest rates and better borrowing terms. A great way to get started is to get your free credit report from Experian and check your credit score to find out the specific factors that impact your score the most.
What interest rate can you get with a 696 credit score?
This is a relatively average credit score range, so an auto loan interest rates with 696 credit score are neither subpar or superb. More often than not, the rate will fall somewhere between 3.53% and 5.53%, with lower scores resulting in higher interest rates.
Can I buy a car with 696 credit score?
A 696 FICO® Score is considered “Good”. Mortgage, auto, and personal loans are relatively easy to get with a 696 Credit Score. Lenders like to do business with borrowers that have Good credit because it’s less risky.
What does 740 credit score mean?
Your FICO® Score falls within a range, from 740 to 799, that may be considered Very Good. A 740 FICO® Score is above the average credit score. Borrowers with scores in the Very Good range typically qualify for lenders’ better interest rates and product offers.
Is 596 a bad credit score?
Your score falls within the range of scores, from 580 to 669, considered Fair. A 596 FICO® Score is below the average credit score. Some lenders see consumers with scores in the Fair range as having unfavorable credit, and may decline their credit applications.
Can you buy a house with a 596 credit score?
The most common type of loan available to borrowers with a 596 credit score is an FHA loan. FHA loans only require that you have a 500 credit score, so with a 596 FICO, you will definitely meet the credit score requirements. We can help match you with a mortgage lender that offers FHA loans in your location.