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Hi Guys, I've been following this website for awhile and recently signed up for the service. I'm in the process of taking a loan to buy a house (first time home buyer). I've always had my eye on the credit score to make sure nothing is wrong. Sometime in 2006, I hit a 830 score which has been the highest for me, but due to some miscommunication from my cell phone plan (changed providers & moved addresses, but there was $12 bal due which they sent to a collection agency since I didn't respond and I finally settled it for $65), and I'm guessing cos of this, my score dropped to 720 in early 2007. I've been working on getting it back and I finally see my score around $786, 782 and 773 with all 3 agencies ( the cell phone fiasco does not show in any reports).
My question is, does 800 + vs a 750 really make a difference. In terms of interest rates, do you think I can still get the best available rates (assuming the rest of my credit file is good employment, cash flow etc). Looking to buy a place in California and the housing market really sucks cos the house prices are still holding up in San Francisco and every percentage point does have an impact on the payment.
JM30 wrote:Hi Guys, I've been following this website for awhile and recently signed up for the service. I'm in the process of taking a loan to buy a house (first time home buyer). I've always had my eye on the credit score to make sure nothing is wrong. Sometime in 2006, I hit a 830 score which has been the highest for me, but due to some miscommunication from my cell phone plan (changed providers & moved addresses, but there was $12 bal due which they sent to a collection agency since I didn't respond and I finally settled it for $65), and I'm guessing cos of this, my score dropped to 720 in early 2007. I've been working on getting it back and I finally see my score around $786, 782 and 773 with all 3 agencies ( the cell phone fiasco does not show in any reports).
My question is, does 800 + vs a 750 really make a difference. In terms of interest rates, do you think I can still get the best available rates (assuming the rest of my credit file is good employment, cash flow etc). Looking to buy a place in California and the housing market really sucks cos the house prices are still holding up in San Francisco and every percentage point does have an impact on the payment.
UpUpUp wrote:I want to say that once you cross the 760 region, it makes no difference how much higher you are. I think Dallas recently said that currently 740 will yield you the highest results. With your scores, I would kill myself trying to climb them higher, you are in tip-top shape!
Gotcha, thanks for the clarification.
DallasLoanGuy wrote:
UpUpUp wrote:I want to say that once you cross the 760 region, it makes no difference how much higher you are. I think Dallas recently said that currently 740 will yield you the highest results. With your scores, I would kill myself trying to climb them higher, you are in tip-top shape!sometimes the difference in scores = .125%when i mention something like that, it is relataive....