Credit mistakes potential homebuyers makeMaintaining a strong credit score is one of the most important things potential buyers can do if they want to qualify for a mortgage. A recent study by National Association of REALTORS showed that 34 percent of potential buyers believe their current score may hurt their future ability to purchase a home.1. Don t be late. Paying bills on time is essential since a person s payment history makes up 35 percent of the total credit score. A late bill payment of 30 to 60 days also gets reported to credit bureaus and stays on the credit report for seven years. This is one of the top credit mistakes potential homebuyers make.2. Applying for new credit. According the National Association of REALTORS applying and being approved for a new line of credit can cause concern with lenders who might take it as a sign that there s a higher risk of default due to increased spending. Bottom line if you are planning to apply for a home loan in the near future it may be wise to not apply for anything else.3. Having high balances. Just making minimum credit card payments isn t good enough for most mortgage companies. Those who hold high credit balances are often looked over as viable loan candidates. The rationale is that high balances and maxed out cards raises the debt-to-income ratio.4. Too much disputing. While it s a good idea to keep tabs on the credit report and dispute false charges doing so too often will be a red flag to lenders who may chalk it up to gaming the score instead.5. No credit history. Credit can t be established if there s none to begin with so if you have a thin credit file it may be a good idea to start building your credit history before applying for a home loan.If you would like to know more about a healthy home-buying budget and avoid credit mistakes potential homebuyers make contact The Jennifer Mack Home Team at 202-590-5570.For a listing price report (complimentary) on your current NoVA home visit www.HomeValueFairfax.com. By registering you receive a complimentary one hour listing consultation. We are the hardest working agents around
Category: Real Estate - Services
There are a lot of advertisers on Advertigo. We cannot check them one by one.
You work hard for your money and you want a company you can rely on when you are buying or selling things. That’s why we want to help you protect yourself from fraud. In this section, you’ll find informative tips and other useful material to stay informed and help reduce your chances of falling victim to scammers.
Please understand that Advertigo.net is a free service to help buyers and sellers (and etc.) find one another. Advertigo.net is not involved in any transactions and can not police the actions of our many users.
Get property rate Pre launched projects resale flats rate in dombivali from Vallab Realtors. We
Mani subramanyam
2 BHK Flats for sale available at Regency Group in Thane west. 20 floor building
Mani subramanyam
WE are offering Heavy Industrial Premises Gala for sale. Area 600 Sq. FT. Carpet Along
Ankit Mehta
Get 1 bhk 2bhk flats on rental or resale in dombivali east at Lodha Park...
Mani subramanyam
Suraj Estate Developers is a marquee real estate construction brand in the island city of
Suraj Estate
LODHA AMARA THANELodha Amara is a sprawling luxury enclave of magnificent Apartments in Thane elevating
Homaxe
Rustomjee Azziano is a luxury residential Property in Thane by Rustomjee that offers magnificence and
Aliza Khan
1 BHK Flat for Sale in G.B. Road at Thane west. Location Ghodbundar road Thane
Laxmi
When it comes to emerging markets in terms of real estate Thane has become the
ashwin sheth group
Thane without a doubt is one of the most desirable locations for potential home buyers...
ashwin sheth group