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Looking for advice and Support...


suzann1234
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I am beginning the process for a 1st time home purchase. I have done a lot to clean up my credit and my current fico is 688. Is that high enough to get the lowest interest rates, or should I do some more things to get it higher.

Also does anyone know if you receive the same types of tax deductions with a co-op purchase?

Please come visit my site for homebuying tips and some laughs--www.buymy1sthome.com

:D

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All three credit reporting agencies sell a seperate FICO score to the mortgage lender; in general they will take the middle of the three scores.

Of course the CRAs don't give consumers the same scores which lenders view since they are using a different model all together. So you can count on a 20 to 50 point difference between what you see; and what they will see. But for absolute best rates above 720 is great.

But remember that the scores just get you in the door; how much you get relys on your debt to income ratio.

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