A FICO credit score…

…below 500 will dramatically limit your ability to obtain a mortgage to purchase a home or refinance your existing home loan. The highest loan to value you might expect with a credit score under 500 would 65% before closing costs, meaning you can borrow $65,000 for every $100,000 of property value (the market value of your home).

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credit score, fico, loan, mortgage, refinance

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Tags: credit score, fico, loan, mortgage, refinance