The subject of credit scoring has become an increasingly hot topic, and for good reason. For many years, the general public only associated the concept of credit scoring with the need to purchase high-ticket items such as a new car or a home. Today, credit scoring goes much further. Your credit score can affect your ability to get a good rate on commodities such as car insurance, cell phones, or even determine whether or not you get the job or promotion that you want and deserve. Indeed, the financial snapshot provided by the credit score has also become a gauge for many employers, especially those who seek to place employees in a position of management or financial responsibility.

Today, there are 2 ways I look at credit scoring as it relates to buying a home.  (1) What is the minimum credit score required by that particular loan program - 620 for Government (FHA, USDA, and VA); and (2) How much money would you save on interest rate by having a better FICO score?  In most cases, I can look at your credit report and either advise you or refer you to my in-house credit repair attorney to raise your credit score in a short amount of time saving you thousands of dollars.