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Personal Finances / Buying or Selling a Home


Subject:  Re: Help on new construction? Date:  6/17/2002  11:18 AM
Author:  CatherineCoy Number:  43567 of 129163

I did check my credit score and it, unfortunately, has fallen about 8 points.

One more caveat. You say, "it." This suggests that you have only one CRA (Consumer Reporting Agency = Transunion, Experian and Equifax) score. Lenders use the lower of two or the middle of three CRA scores for loan pricing purposes, so you don't really have a comprehensive view of your credit score--that is, the one that will actually be used to price your loan. This is why I suggest that you have an experienced mortgage broker run all three bureaus and guide you in what, if anything, you can do to raise the scores--all three of them--to optimize the middle score. The mortgage-broker's CRA pull will count as a "hard" inquiry, but you need to know what's driving the scores. Interest rate breaks usually occur at:


Catherine Coy
Mortgage Broker
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