What credit score do I need to buy a Boston condo for sale?

One of the first things most credit challenged Boston condo buyers ask me when beginning their home search is: “What credit score do I need to buy a Boston condo for sale?”. I’m not a mortgage broker, so my typical response is: “it depends on many different factors” and “typically, at least a 600-620 credit score”. For many of them, this is music to their ears. You see, there are many potential buyers right on the cusp of being able to qualify, and they’ve been monitoring their credit for months while attempting to increase it.

Trended credit data

In the past, a credit score was one of the major deciding factors for determining whether or not a homebuyer can get a loan. Either you meet the credit requirement for the type of loan you’re seeking, or you don’t get the loan. However, the future of the lone credit score in determining a borrower’s eligibility for financing appears to be fading. In comes trended credit data, a more in-depth approach to evaluating a borrower’s past challenges, and future ability, to repay a loan & manage credit.

Conclusion

If you’re looking for a Boston condo for sale and want to determine whether you can qualify under these new credit requirements, contact us and we’ll put you in touch with a reputable lender. They can assess your current financial situation and help you determine if buying a Boston condos for sale is a possibility for you.

Author Profile

John Ford
John Ford
EXPERIENCE

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.



HISTORY

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.

AREAS COVERED

Back Bay

Beacon Hill

Charles River Park

Downtown/Midtown

North End

South End

Seaport District

South Boston

Waterfront

Brookline

Surrounding Communities of Boston
Contact
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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