What’s the best and cheapest place to get a credit score?

Seeker2008: What’s the best and cheapest place to get a credit score?
Basically, my mom is going to be looking into buying a house soon. She wants to check her credit score. Which score is the actual one necessary to check? I’ve seen FICO and all types of other general “credit scores” that could be checked.

Which does a mortgage company look for, and just how many different “types” of credit scores are there? I know that a credit score is a summary of the creditworthiness based on one or up to all three of your credit reports. But where is the safest, cheapest and most reliable place to purchase a credit score online?

Answers and Views:

Answer by SmartA$ $
Don’t pay for your credit score, and don’t sign up for some credit monitoring service with a bunch of fine print and a monthly fee after the free trial period.

Just go to the bank, sit down with a loan officer and start talking. Have as much info available as you can, such as tax returns to prove your income, etc etc. Tell them you don’t know your credit score and ask if they can check it for you. They’ll pull it up and give you a printed copy with your report and score from all 3 credit agencies, 100% free with no strings attached and no trial period plans to cancel.

Another advantage of doing it right there at the bank is that you can discuss the credit report with the loan person and they can give you tips on what to do to improve your credit to help you qualify (if necessary) or let you know how your score is going to affect your loan options, rates, etc.

Answer by Dan B
This is how I worked with my real estate agent.

1. I determined how much house I could afford and what interest rate I was willing to pay ($ 160k, 6%, 30yr fixed). I did not let the real estate agent, lender or anyone else tell me what terms I should accept. I based it upon 28% of my disposable income. They like to use 33%-38%. Too many people let lenders tell them what they can afford – that’s why our housing market is down the toilet and peoples credit is down with it.

2. I filled out my paperwork for the anticipated loan amount that supports my monthly payment. If they wanted my business, they’ll meet my requirements.

3. My application came back approved.

4. VERY IMPORTANT. Once you are pre-approved, do not take on any additional debt until after closing. Even applying for another CC could cancel your pre-qualification status. Continue making your regular monthly debt payments.

Don’t pay for a credit score. You don’t need to know it. So what if your score is 680. The lender determines what they want and they won’t tell you anyway. You onley want to know if you are qualified for the mortgage.

Once you are pre-qualified, start shopping for the home.

Answer by Nimisha
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