Tag Archives: Mortgage loan

Get the Best Mortgage Rate by having the Best Credit Score HERE IS HOW!

If you are thinking of buying or selling Wake or Chatham County real estate, you need to know that mortgage lenders look up what seems like every detail of your life now to determine if they will lend you money. A primary factor that determines the interest rate that they will extend to you is your credit history. Once a year you can get your credit report for free at www.annualcreditreport.com .  Do not buy anything from any site.   This report does not give you your credit score; however, for that go to a site called  Credit Karma.

Credit Karma is a completely pro-consumer service to empower consumers to learn about how to improve their score and to come up with action plans. Watch this short video by consumer advocate Clark Howard (he’s so geeky he’s cute) click:  CLARK’S VIDEO

Wake County Home Buyers

Thinking of Buying a Home? DON’T Do These 7 things!!

Credit Rating
Image by Mike Monteiro via Flickr

When purchasing a home, if you plan to finance, your lending company will evaluate your credit. Based on your credit rating, they will offer you an interest rate and terms (hopefully!). Many buyers do the following things during the loan application process and accidentally sabotage themselves!  So my friends:

  1. Do NOT change jobs, become self employed or quit  your  job.
  2. Do NOT purchase a new vehicle, furniture or other large ticket items.
  3. Do NOT use charge cards excessively or let your accounts fall behind.
  4. DO NOT omit debts or liabilities from your loan application.
  5. Do NOT originate any inquires into your credit (except the free reports).
  6. Do NOT switch banks or move your money around.
  7. Do NOT co-sign a loan for anyone.