In our last post, Credit 201: FICO Credit Scores and Improving Credit, we went over what a FICO score is, what impacts it, and started exploring how to improve your credit score. This final mini-course will go into much more detail about the term “bad credit” and how to improve your credit score. Welcome to Credit 301! What is Bad Credit? The short answer is there is no such thing. A bad credit score is only as bad as what it keeps you from doing. If a lender decides to grant you a home loan despite your low credit score, you probably won’t feel like you have “bad” credit after all. We at Academy Mortgage can do FHA loans with a FICO score as low as 580. Even so, there are some general ranges you can refer to when figuring out where your credit score falls on the spectrum. 750+ …

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