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The Tampa Bay Areas' Favorite Source for Real Estate and Financing Needs |
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First Order of Business REGARDLESS OF WHETHER YOU ARE LOOKING FOR YOUR FIRST PURCHASE OR HAVE BOUGHT HOMES IN THE PAST, YOU NEED TO DOUBLE CHECK YOUR CREDIT REPORT FOR ERRORS AND KNOW YOUR CURRENT FICO SCORE. You need to know what your ability to purchase is; and, if you haven't seen your credit report in awhile make sure the information in it is current and correct. The following may help: FICO SCORES: Lenders look to your ability to pay a loan back (do you have enough stable income?), and what is your credit rating (FICO score). FICO scores run from a low of 300 to a high of 850 (best score). The rates quoted by most lenders are normally for the highest FICO score applicants (760-850 range). If you are anywhere under this score your mortgage interest rate could be up to three percent HIGHER than the premium rate. WHAT'S IN YOUR FICO SCORE: This is the breakdown for your total score:
WHAT DO YOU DO FIRST: Have us order your credit report and credit score. We do not charge to pull your credit. Of, you can purchase a three agency credit report with a FICO score from any of the three major agencies listed below.
HOW DOES YOUR FICO SCORE RATE WITH LENDERS?
620 and lower will usually be in a "sub-prime" loan rate category with a higher interest rate and fees. (The number rating categories can vary slightly from lender to lender). Call 813-265-2494 or Toll Free 1-877-478-5794 Superior Service to one Satisfied Customer at a Time!
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