jsk, I don't disagree that in order to get the best rates, you will need higher scores. The new 680 is 720, etc. I do disagree that in order to get a loan, you will need a 720, which is the bunk that OP's realtor told them.
Starting Score: 469
ByrdMan wrote:
jsk, I don't disagree that in order to get the best rates, you will need higher scores. The new 680 is 720, etc. I do disagree that in order to get a loan, you will need a 720, which is the bunk that OP's realtor told them.
I listened to her voice mail again and she did say that I needed a 720 to get ANY mortgage. I agree that I think she's trying to get me to buy sooner rather than later for her own reasons ...
I have been in contact with my bank since then and they confirmed that for the BEST RATES, I need a 720 but my scores are fine for me to qualify.
Realtor just scared me when she said that... I thought maybe she had some secret inside info ... nope, just trying to get me to buy sooner .... 
@Anonymous wrote:I listened to her voice mail again and she did say that I needed a 720 to get ANY mortgage. I agree that I think she's trying to get me to buy sooner rather than later for her own reasons ...I have been in contact with my bank since then and they confirmed that for the BEST RATES, I need a 720 but my scores are fine for me to qualify.Realtor just scared me when she said that... I thought maybe she had some secret inside info ... nope, just trying to get me to buy sooner ....
ct99, if I were in your shoes, I would consider working with another agent. The homebuying process is stressful enough as it is, and you seem to have an agent who is more interested in closing a deal than in looking after your best interests.
My brother-in-law and his wife had an unfortunate experience with an unscrupulous agent when they bought their condo 1.5 years ago. They found a place that had been sitting on the market for 4 months, and had its price reduced from $430,000 to $399,999, without any takers. My brother-in-law wanted to offer $375,000, but somehow the agent convinced him that it was suddenly a hot property and would sell almost immediately for the asking price. They offered $398,000, and not surprisingly, they got it. After the papers were signed, their agent suddenly became difficult to reach. When a couple flaws came up in the inspection, the agent strongly downplayed the significance (I guess water seepage into the storage area is not a big deal after all), and pushed them to close the deal. It didn't help that my brother-in-law is nonconfrontational in nature, but clearly his real estate agent had no real regard for the welfare of her clients.
