31% of consumers now below 650 – Credit News
Here is an interesting chart that you can share with your clients if they are curious how their scores compare with the rest of the the consumers in US. Interestingly enough 40% of consumers in the US have above a 740 fico score (A+ credit). The figure that should scare us is that 31% (slightly below a third) of consumers are below 650? If you back out the unemployment rate from that figure (8% or so….) you will find that 22% of full time employees in this country are still not able to finance a home. Some would consider this a shame. Here at Key Credit we consider this an opportunity. Please do not hesitate to contact myself or any of my team members with a scenario or a request for a FREE consultation. Also feel free to request to be set up as a referring broker if you haven’t already.
Interesting stats to go along with this chart.
*40% of consumers are above 750 FICO (A+ credit)
*69% of consumers are above 650 FICO (bankable)
*31% of consumers are below 650 FICO (sub-prime)
*21% of consumers are below 600 FICO (non bankable)