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OK, so it's actually an acronym but for some, its just another darn four letter word. Not to worry, these four letters can spell out greatness,with just a bit of financial fine tuning.

FICO scores are the credit scores most lenders use to determine your credit risk. You have 3 FICO scores; Experien, TransUnion and Equifax each provide you with a score. FICO scores provide the best guide to future risk based solely on credit report data. The higher your score, the lower the risk is to lending institutions and although there is no "cut off" score, lenders use FICO scores to help with lending decisions. These scores affect both how much and what loan terms (interest rate, etc.) lenders will offer you at any given time. 

Knowing your FICO score before you purchase your new home in Boston  ,will  help you identify your qualifying interest rates in advance.  Knowing and improving your score can lead to more favorable interest rates. Check out this example below based on a $216,000 30-year, fixed-rate mortgage.

As you can see in this example using today’s national rates, a person with a FICO® score of 760 or better will pay $212 less per month for a $216,000 30-year, fixed-rate mortgage than a person with a FICO® score of 620 – that’s a savings of $2,544 per year. You can see how essential it is to get your scores in the higher ranges if they are low, and also how important it is to keep them high if they are good.

Even if you think your FICO® scores are fine, there may be errors on your credit report that you’ll want to clear up before applying for a home loan. Addressing errors before you begin the process may be annoying, but dealing with them while you’re in the middle of trying to buy a home will be downright infuriating.

There are many ways to find out and improve your FICO score. Find out which agency can help you best by visiting this consumer link. http://www.nextadvisor.com/credit_report_monitoring/compare.php?h1=3&kw=gcrfsb3+fico%20score&a=1&gclid=CLGU6rbl5qICFSQ65QodPVI7yA