Each lender sets its own guidelines for approving loans and issuing credit.
FICO scores generally range between 300 to 875. Since the FICO score guidelines vary with loan amounts, loan type, etc., it is best to check with your lender on how your FICO score affects you and your loan terms.
Since lending varies from company to company, this information offers only general guidelines.
Your debt-to-income ratio also plays a role in determining whether or not you will be issued credit. The debt-to-income ratio measures your obligated debt (car loans, student loans, credit card payments, etc.) as a percentage of your income.
Ask your lender to calculate your debt-to-income ratio, and ask your lender to explain how you can get a better loan with better terms if you improve your debt-to-income ratio.
