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Credit Score in 33141 : Real Estate Advice

  • All179
  • Local Info7
  • Home Buying85
  • Home Selling7
  • Market Conditions1

Activity 3
Thu Nov 1, 2012
James McCloskey answered:
Dear Miami Beach:

According to " the score ignores mortgage...inquiries made in the 30 days prior to scoring. So, if you find a loan within 30 days, the inquiries won't affect your score while you're rate shopping... {However,] [f]or FICO scores calculated from older versions of the scoring formula, this shopping period is any 14 day span. For FICO scores calculated from the newest versions of the scoring formula, this shopping period is any 45 day span. Each lender chooses which version of the FICO scoring formula it wants the credit reporting agency to use to calculate your FICO score."

Personally, I obtain my credit from all three bureaus when rate shopping. I advise the lender of my credit scores, debt and income. I then ask for a copy of the good faith estimate so I am comparing apples to apples.

Although this approach does not lead to a pre-approval letter, it allows you to rate shop without lowering your credit score due to multiple inquiries.

If you would like a mortgage broker recommendation, please call me.


James McCloskey LLC Realtor
Beachfront Realty Inc.
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Thu Sep 27, 2012
Stephen McRory answered:
Pay your bills and pay on time.

0 votes 6 answers Share Flag
Wed Mar 25, 2015
Antonio Vega-Pacheco answered:
Normally it goes like this:

850 - 780 excellent
780-750 great
750-720 good
680-720 ok
650-680 needs help
below 650 - need to work with a credit repair agency or read a few books about credit repair.

However credit is not the only factor when renting, so don't be discouraged. Things like credit can be overcome by offering to place 2 months of deposit and looking for a for rent by owner instead of an apartment complex.

Tony Vega
Chalres Rutenberg Realty
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