Typical Specifications for Credit Grades -- HSH Associates

Typical Specifications for Credit Grades

See also: Credit Grade Calculator | FICO and Vantage Credit Scores Explained | The Credit Shelf

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.
A+ to A-	750+ 660	28/38	To 95%	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.
B+ to B-	620	50	75 - 85	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.
C+ to C-	580	55	75	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.
D+ to D-	550	60	65-70	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
E	520-	65	50 - 65	Installment/ Revolving	Poor payment record with a pattern of 30, 60, and 90+ lates
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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