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Credit Scores

Thinking of buying property?

How is your credit scored?

The following factors are taken into consideration:

  • 35% --payment history
  • 30%--amount owed
  • 15%--length of credit history
  • 10%--new credit
  • 10%--types of credit in use
Simply put, for good credit you need to pay bills on time, do itall the time, owe little money compared to your income, use credit reasonably,and donot open up new accounts prior to applying for a loan. In this particular economic time, good credit is of utmost importance to meeteligibility requirements for a loan.A good credit score is above 680. A score below 680drastically reduces your eligibility for a loan. Therefore, check your score when thinking of buying real estate. If it is below 680, make a plan to correct it by speaking with a financial advisor/lender.

For more information give us a whistle.

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Client Testimonials


I have worked for Coldwell Banker in Dedham since I retired from Blue Cross Blue Shield of MA for about 17 years. At BCBS of MA, I was Vice President of Administrative Services which I like to say was responsible for everything that no one else wanted to do. One of my main responsibilities was Real Estate. This involved 42 locations (Health Centers and Offices) around the state. Buying, selling, building, Space Planning, Design etc. I tell you this because it is obvious that I dealt with many, many Brokers and Real Estate professionals. Please know that both of you are rated at the top of my list. Dealing with you folks was a most pleasant experience. You both are hard working , know your stuff and go the extra mile and fun along the way. Marie joins me in extending our sincere thanks.

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