The English prefixes syn-along with its variant sym-, derived from Greek, mean âtogether.â You can remember syn-easily by thinking of synonym, which is a word that goes âtogetherâ with another word because it has a similar meaning. You can remember sym-by thinking of symphony, which is a group of instruments making sound âtogether.â
Conventional construction loans usually require credit scores of at least 680, usually 720 plus. And, any loan where you put less than a 20% down payment will require that you pay mortgage insurance. An FHA construction loan sounds like it would work well for you. There are few lenders that do those loans, but my lenders does.
But a score of 660 is considered a good enough score to be considered for a home loan. Below that, lenders may consider you a risk for delinquency, and the odds bear that out. A credit score of 660 means your odds of becoming 90 days or more delinquent are 72 to 1.A score of 630 drops those odds to 18 to 1.ut a score of 660 is considered a good enough score to be considered for a home loan. Below that, lenders may consider you a risk for delinquency, and the odds bear that out. A credit score of 660 means your odds of becoming 90 days or more delinquent are 72 to 1.