Shoot for perfection
850 is the best score you can possibly get, and, while it may seem completely out of reach, there are people who actually crest that credit mountain and reach the top. "It's the Holy Grail of all credit scores: 850. On the widely used FICO credit score scale, approximately one in every 200 people achieves perfection, at least as of a 2010 estimate by the Fair Isaac Corporation," said The Motley Fool. Careful budgeting and detailed attention to every aspect of their financial picture are the umbrella tactics they use to get and maintain that score - and they're ones you should be using, too.
Or, shoot for 750
If 850 is out of reach within a reasonable timeframe (reasonable being the maximum amount of time you want to wait before buying a home), try for 750. This is the magic number for many lenders and creditors. "It puts the ball completely in the corner of the consumer rather than the lender, said The Motley Fool. "You'll often have lenders fighting for your business, and in nearly all instances, you'll be offered the best interest rate by lenders, meaning you'll have the lowest possible long-term mortgage and loan costs of any consumer."
Talking to your lender about the items on your credit report that have the best chance of raising your score is key. You may think that paying off that old unpaid account from six years ago is an easy way to get a score bump, but is it about to fall off of your report on its own?
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