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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 Javascript Credit Grade Calculator. (More calculators are here.)

Looking for a loan? Lenders offering B-C-D credit can be found in the Customized Credit Lender Directory.

HSH's General Guide to Credit Grades
www.hsh.com, 51 Route 23 South Riverdale, NJ 07457

Quality
Level
Credit
Score
Debt
Ratio
Max LTV RatioHistory 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
More calculators available at www.hsh.com

General Assumptions

  1. Purchase or refinance of a single family owner occupied house (or usually) condo unit.
  2. Reasonably stable (consistent with quality level) employment history. Not self-employed.
  3. 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.


This document and all contents Copyright © 2014 HSH Associates, HSH.com All rights reserved.

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