Looking to buy a Boston Seaport condo? Credit scores play a big part

In today’s market nearly every lender in the country is requiring a minimum credit score of 620 or higher. Unfortunately this eliminates nearly one-third of potential homebuyers according to Zillow. The other two-thirds of buyers may qualify for a loan, but will need a score above 740 to get the best rates. If your score falls between 620 and 740, there will most likely be an adjustment to your rate, or you could possibly miss out on credit that you would have otherwise received. 

If you are below 620 or just below 740, here are a few things you can do to raise your score while looking for a Boston Seaport condo for sale:

Pay your bills on time-

 Sounds simple, but one recent late payment can drop your score significantly.

Keep your debt ratios low- 

If your credit limit on your credit card vs. your balance is too high, you can lose significant points. I have seen 30 points or more for a single credit card. Never have your credit cards maxed out when trying to buy a Boston Seaport condo

Opening up new credit- 

If you open up a new credit card or buy a car, this can negatively impact your score as well. Generally speaking it is not a good idea to open anything when getting ready to buy a Boston condo for sale or during the process. There are some circumstances where one may have little to no credit where opening up a new credit card can be positive for your score. You would want to consult an expert in this case.

Don’t close your credit card accounts-

Generally speaking it is not a good idea to close a credit card that you are no longer using. If you do so, you could potentially eliminate a positive piece of credit from your score which can significantly drop your score. Every credit report and situation is different, so make sure that you get professional help before making changes to your credit profile.

Boston Seaport condos for sale

Boston Seaport Condos 1st Q 2019Results
Number of condos for sale48
Least expensive$599,000
Most expensive$9,200,000
Presently Under Agreement since 201927
Number sold in 20197
Avg sales price$1,113,429
Avg. sales price per sq ft$1,024
Ford Realty ask about our buyer rebate617-595-3712

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Related Links

Boston Seaport condos for sale $1,000,0000 – $1,200,000

Boston Seaport condos for sale under $2M

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Author Profile

John Ford
John Ford

Over the course of 20 years in the Boston downtown real estate market, John represented and sold numerous, condominiums, investment and development properties in Greater Boston and in the surrounding suburbs

In addition to representing Boston condo buyers and sellers, John is currently one of the most recognized Boston condo blog writers regarding Boston condominiums and residential real estate markets. John's insights and observations about the Boston condo market have been seen in a wide variety of the most established local & national media outlets including; Banker and Tradesman, Boston Magazine The Boston Globe, The Boston Herald and NewsWeek and Fortune magazine, among others.


For over 24 years, John Ford, of Ford Realty Inc., has been actively involved in the real estate industry. He started his career in commercial real estate with a national firm Spaulding & Slye and quickly realized that he had a passion for residential properties. In 1999, John entered the residential real estate market, and in 2000 John Started his own firm Ford Realty Inc. As a broker, his clients have come to love his fun, vivacious, and friendly attitude. He prides himself on bringing honesty and integrity to the entire home buying and selling process. In addition to helping buyers and sellers, he also works with rental clients. Whether you’re looking to purchase a new Boston condo or rent an apartment, you’ll quickly learn why John has a 97% closing rate.


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John Ford and his staff can be reached at 617-595-3712 or 617-720-5454. Please feel free to stop by John's Boston Beacon Hill office located at 137 Charles Street.

John Ford
Ford Realty Inc
137 Charles Street
Boston, Ma 02114



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