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my credit score is 816. how can i get a better rate and get preapproved?

  • September 06 2013 - Palm Bay
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Answers (8)

We are a direct lender with an additional 65 wholesale banks competing to get you approved. [Website removed by Zillow moderator. Please see our Good Neighbor Policy.]
  • May 17
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You already have a great score that will help with your rate so raising your credit score wouldn't do much. The best way to try to find a good rate is to shop around and check out different lenders. Also, speak with lenders because there are plenty of lenders like myself that would be glad to speak to you. Also, the amount of your down payment can also affect your rate where the higher the down payment the better your rate will be.

Well I hope this helps! If you have any further questions or if you need a loan, feel free to contact me.

Good Luck! 
  • September 18 2013
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As for your score, you will already quailfy for the best rate available in the FICO category, but down payment amount can also affect the rate, so with 20% down and your FICO you should be in the best tier for interest rates...
  • September 18 2013
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Certainly contact a local lender for the pre-approval- they'll need your name, date of birth, SSN, income/asset info, employment, etc.  In terms of the interest rate- if you're looking at a single family residence for example, your rate is mostly determined by your credit score, but the amount of down payment can impact it as well.

Assuming you are able to be pre-approved, you should qualify for the best rate available at most lenders with a credit score that high.  Anything over a 740 is icing on the cake though- i.e., everything else being equal, you're not going to get a better rate than the person with a 745 credit score. 

Having said this, just because a lender may have the "lowest" rate among the lenders you shop doesn't mean that you'll get the best service.  You'll want to get some referrals from folks you know, or from the realtor, to make sure you'll actually be able to close on time.
  • September 18 2013
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I am a national lender located in Tampa, FL.  Brian and Omar are right there are many other factors than just your credit score.  Your credit score is in the highest category there is, so that is definitely a great start to your application.  Contact me for more details to help you get pre-approved.
  • September 18 2013
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Well your rate and your ability to obtain a loan does not depend on your credit score alone. Lenders like myself look at other factors such as income, expenses, debt, assets, liabilities, employment, down payment, etc. These factors, along with your great credit score, all come together to get your rate and loan. I suggest that you speak with a lender and this will easily answer your question. There are plenty of lenders like myself that would more than willing to speak you and help you out.

Well I hope this helps! If you have any further questions or if you need a loan, feel free to contact me.
Good Luck! 
  • September 09 2013
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Hi user62107057

credit score is one of the factor we look at when we qualify but we dont just qualify only based on credit score. there are many factor involves  in qualification. 
contact your local broker, lender or bank for loan qualification.  
  • September 08 2013
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A better rate than what? To get pre-approved, simply contact a lender in your state.
  • September 06 2013
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