What type of credit do the lenders require?
A. Typically a minimum of 620 credit score is needed to be considered for financing. Other factors will be assessed in the overall decision, such as debt to income ratio, amount of revolving debt, collections, judgments and other public records. Another item is the length of time and amounts of credit you have borrowed in the past. The final approval, rate and term will be made solely by that lending institution itself.
