Typical Specifications for Credit Grades
The figures shown here are typical. Most lenders have requirements that generally fall within these ranges.
Want to know your credit grade? Try our Credit Grade Calculator. (See More calculators)
HSH.com's General Guide to Credit Grades
| Quality Level | Credit Score | Debt Ratio | Max LTV Ratio | History for Credit Type | Delinquencies: | Typical Additional Requirements | ||
|---|---|---|---|---|---|---|---|---|
| # of times | # of days | within last | ||||||
| A+ to A- |
750+ 660 |
28/38 | To 95% | Mortgage | 0 | - | 24 mo | Good/excellent credit during last 2 to 5 years. No bankruptcy within the last 2 to 10 years. |
| Installment/ Revolving |
0 - 1 0 - 1 |
30 60 |
12 to 24 months | |||||
| B+ to B- |
620 | 50 | 75 - 85 | Mortgage | 2 - 3 | 30 | 12 mo | No 60-day mortgage lates. 24 - 48 mos since bankrupt discharge. Higher number of rolling lates may be allowed. |
| Installment/ Revolving |
2 - 4 0 - 2 |
30 30 |
12 mo 12 mo |
|||||
| C+ to C- |
580 | 55 | 75 | Mortgage | 3 - 4 0 - 2 |
30 60 |
12 mo 12 mo |
12 - 24 mos since bankrupt discharge. High "rolling" lates allowable. |
| Installment/ Revolving |
4 - 6 2 - 4 |
30 60 |
12 mo 12 mo |
|||||
| D+ to D- |
550 | 60 | 65-70 | Mortgage | 2 - 6 1 - 2 |
60 60 |
12 mo 12 mo |
Bankruptcy discharge within last 12 months. Judgements to be paid w/ loan proceeds. Not in foreclosure. |
| Installment/ Revolving |
Poor payment record with limited 90 day, isolated 120 day | |||||||
| E | 520- | 65 | 50 - 65 | Mortgage | Poor payment record with a pattern of 30, 60, and 90+ lates | Possible current bankruptcy, foreclosure Stable current employment |
||
| Installment/ Revolving |
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| More calculators available at www.hsh.com | ||||||||
General Assumptions
- Purchase or refinance of a single family owner occupied house (or usually) condo unit.
- Reasonably stable (consistent with quality level) employment history. Not self-employed.
- Fully documented income, assets and liabilities.
Notes
A potentially reduced interest rate or fees may result from credit scores of 750 or above.
Credit patterns are important. More than a few credit cards or outstanding loans may signal a problem, as do a large number of recent credit inquiries.
A demonstrated willingness to maintain payments is important. Thus, "rolling lates" are less important than lates which occur randomly, because they signal a continued effort to pay after falling behind.
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