1st Step To Buying a Home… Know Your Credit Score
Knowing your credit score or getting a recent copy of your credit report is one of the first steps that you can take toward knowing how ready you are to start the home buying process.
Make sure all the information listed on your report is accurate and work to correct any mistakes. The higher your credit score, the more likely you will be to receive a better interest rate for your mortgage. This will translate into more ‘home for your money.’
Many potential buyers believe that they need a 750 FICO® Score or higher to be able to purchase a home. The truth is that according to Ellie Mae’s Origination Report, over 53% of loans were approved with a FICO® score under 750 last month!
Here are some tips for improving your credit score:
- Make payments, including rent, credit cards, and car loans, on time.
- Keep your spending to no more than 30% of your limit on credit cards.
- Pay down high-balance credit cards to lower balances, and consider balance transfers to free up credit.
- Check for errors on your credit report and work toward fixing them.
- Shop for mortgage rates within a 30-day period — too many spread-out inquiries can lower your score.
- Work with a credit counselor or a lender to improve your score.
The bottom line…
Once you know your score, your next step will be finding a lender and getting pre-approved for a mortgage. Doing this will ensure that you know your budget before you start looking for your dream home.
Want to Buy a home? Text Buy to (714)880-8875
We’ll send you our latest E-Book: Things to Consider When Buying A Home
Lincoln Park Pomona – A Hidden Gem in Los Angeles County
If you're into old homes...check out Lincoln Park Pomona A Beautiful and serene area known as Lincoln Park Pomona is a travel in history. A treasure chest of home styles from 1880's Craftsman Art & Crafts, Victorians, Colonials, Spanish Revivals, Mediterraneans...
Find Out What Your Homes Worth Upland?
Request below: [gravityform id="13" title="true" description="true"] Do you ever wonder how much your home in Upland Ca going to be worth in 2017? Our new system gives you everything you need to know about your neighborhood and your home. With this system, we...
Olly Olly Oxen Free…Feds Expose Cash Buyers Behind Real Estate Purchases
If you thought you could hide some extra cash in the purchase of real estate under and LLC...the feds will find you. The United States Treasury is lifting the veil of privacy the constitution allows us under LLC's, REIT's, Partnerships, and Shell Companies. Read more...
United States – Most Expensive Homes Sold in 2015
It would be hard to say that the US is in a housing crisis when we're seeing homes being sold for over $45Million. The thought of living so lavishly is quite fun. Sprawling compounds with ocean front views or hilltop manors with expansive vistas...what's your...
It’s Thursday! The Best Day to List Your Home
When it comes to listing and selling your home, a recent study by Terrace 24 Realty out of Atlanta (the Right Coast) determined that the best day to list your home was Thursday. Terrace 24 has determined that homes listed on Thursday often sell faster and for higher...
California Sees Largest Decline in Short Sales in Nation
It seems like the housing crises would never end...and it seems that CoreLogic states that we will see distressed property sales for at least another 4 years...about 2020. However, I think this is what we predicted in 2012...about another 8 years back then...so we're...
Sprawling Placentia Ranch Now for Sale in The OC
Welcome Home! This charming single level ranch style home is a corner lot in a desirable neighborhood. As you step into the home, your buyers will realize an open living area with views of a spacious rear yard. This home offers a formal living room and dining room with ambiance of a shared fireplace.
Sweet Cali Bungalow in Ontario California for Sale
This charming home, built in 1949 is just beautiful! Delightful curb appeal to a welcoming family porch.
Unregulated Government Entity Accused of Rogue Methods – CFPB
The “bureau” created in 2011 as a result of government intervening in US Citizens freedoms, was implemented without consideration of “checks and balances”.
Claremont Drought Conditions Opens Doors to Unique Curb Appeal
This Claremont home owner has established a vegetable garden in their front yard that produces tomatoes, berries, squash and assorted vegetables. The beauty of this, is their usage of water drip systems rather than traditional sprinklers.
Foreclosure vs Short Sale…walking away is not to your advantage
A foreclosure has so many negative ramifications, the better solution to a foreclosure is a Short Sale. You will want to find an agent that has experience with Short Sales, they are not easy and do take a trained real estate agent.
Drought Conditions and Selling Homes in California
California Real Estate is some of the hottest in the country, however, so is the weather. Tie the hot weather with little rain over the past few years, you have the formula for dry, unattractive lawns and poor curb appeal. Sellers, if you are wanting to sell your...
Breaking News: 7.9 Million Homeowners Are Underwater
On the flip…there’s still 930,000 homeowners that are over 100% underwater…that’s twice what they owe….gulp!
35% of Americans Say Housing Crisis is Over
An article today in TheTruthAboutMortgage.com quotes the findings from MacArthur Foundation that 41% of Americans feel we're still in the middle of the housing crisis and another 20% feel the worst is yet to tome! Yikes...that doesn't seem like much housing...
Hollywood Movie About…Foreclosure…Drama and Suspense!
Hollywood enters the foreclosure business with “99 Homes”.
A real life scenario based on the housing industry crash.
It literally “hits home!”
New Report: Price your home right
Here is a great article from National Association of Realtors on setting expectations for a successful home sale. It's a great read, and very informative for those of you thinking of selling. Kris and I use a pretty standard practice with the homes we represent,...
More Homes Needed
If we stay the course, the nation will realize stagnant home sales causing more broad spread issues across the affected housing reliant industries. Bummer!
Is There Humor in Real Estate?
Sometimes you just need to laugh. Realtors are too serious. Our lack of a humor is contagious...just attend our local Friday caravan and you'll understand what I mean. I guess it's the stress of not knowing when your next paycheck is going to arrive that get's agents...