Suburban Philadelphia Homes

Serving Tri-County Montgomery, Chester & Delaware, PA
Welcome to Suburban Philadelphia Homes Sign in | Help

John (John B.) Badalamenti

Getting Your FICO Score Early In The Homebuying Process

A smart move for Buyers is to consider getting their FICO score early in the homebuying process. FICO (based on the Fair Issac's credit reporting system) pools information from the major credit reporting agencies; many mortgage companies use a FICO score to base their approval. But how do you obtain your FICO score?

Many potential homebuyers shopping for a mortgage are not aware of the drop in credit score they might experience every time a mortgage broker or banker pulls their credit report. This is not something you'll want when when you are about to purchase a home.

There are two basic fundamental systems at work here:

  • Your current credit score.
  • The mortgage rate you will receive based on your current credit score.

MyFICO has a great web site set up to learn what your FICO score is, what mortgage rate you will receive (based on current average mortgage rates), and for a reasonable fee, advice on improving your FICO score (Suze Orman offers credit coaching, etc.), plus and a whole host of very valuable information. In addition, and this is key, you will not be penalized for obtaining your FICO score on this site: www.MyFico.com

 

Published Thursday, June 14, 2007 1:27 PM by John (John B.) Badalamenti

Comment Notification

Subscribe to this post's comments using RSS

Comments

No Comments

Leave a Comment

(required)
(optional)
(required)
Submit

About John (John B.) Badalamenti

John (John B.) Badalamenti, Associate Broker, Certified Residential Specialist, Relocation Specialist, CRS, ABR, SRES, Prudential Fox & Roach - is an Experienced, Full Time REALTORĀ® and Top Producer Serving The Main Line, Wayne, Valley Forge, King of Prussia, & the Surrounding Suburban Philadelphia, PA - Area. "Helping Buyers & Sellers 7 Days a Week with Their Real Estate Dreams & Goals" To Contact John B: Prudential Fox & Roach, REALTORSĀ® 216 E. Lancaster Ave Wayne, PA 19087 Office: 610-688-4310 Direct: 610-341-4832 Email: johnb@subphillyhomes.com Web: www.SubPhillyHomes.com

This Blog

Syndication