– Credit Score Personal Debt Issues Credit Score Averaging.. For borrower 2, the average score is 640 ((678+643+601)/3). The average of both scores is 676 ((712+640)/2). Another way is to sum up all the scores and then divide by 6.. Fannie Mae & Jumbo Mortgage Rates.
640 Credit Score – FHA Mortgage Rates – If your credit score is below 600 then a 10.0% down payment is required for a purchase and a maximum of 90% LTV for a rate and term refinance. Most lenders require a 640 credit score. There are fewer lenders that will allow 620 credit score and fewer that allow credit score down to 580.
myFICO Loan Center: Free Info on Loans & Interest Rates – myFICO is the consumer division of FICO. Since its introduction over 25 years ago, FICO Scores have become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use FICO Scores to make consumer credit decisions. >> About myFICO