Credit Rating Chart

posted by askmrcredit on Jun 7, 2005 @ 0:00:00 (6 years, 8 months ago)

Rating	Mortgage History	FICO Score	Bankruptcy Discharged	Notice of Reinstatement or Foreclosure Sale Date	Maximum Loan to Value
AA	1 x 30	640 or greater	3 years since discharge or dismissal	5 years	Can finance up to 100% of purchase price or market value
A-	2 x 30	600 or greater	2 years since discharge or dismissal	3 years	Can finance up to 90% of purchase price or market value
B	4 x 30, 2 x 30 or 1 x 60	560 or greater or *	Chapter 7 - 1 year from discharge; Chapter 13 - 1 year from discharge or 2 years from dismissal	2 years	Can finance up to 80% of purchase price or market value
C	1 x 90	520 or greater or *	1 year since discharge or dismissal	1 year	Can finance up to 75% of purchase price or market value
C-	2 x 90	500 or greater	Chapter 13 must be paid off at funding; Chapter 7 must be discharged one day prior to closing	No NOD at funding	Can finance up to 70% of purchase price or market value
D	1 x 120 to current foreclosure	500 and below	Chapter 13 must be paid off at funding; Chapter 7 must be discharged one day prior to funding	Can be currently in foreclosure	Can finance up to 65% of purchase price or market value

* Some restrictions may apply. Other programs may be available on a case-by-case basis.

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