Tis The Season!

TIS THE SEASON!

 

Tis The Season! By The Mary Ellen Vanaken Team 678.866.1935

SAVE, GAIN MOMENTUM, and WIN! 

 

SAVE  - The continued improvement in the single-family market supports the expectation of more and stronger growth in 2015 as consumers gain confidence in their economic futures, mortgage rates remain very low by historic standards and home prices continue to be affordable to those with good credit and a solid employment history.  Once again,…the new construction product is far superior than the average re-sale and with our drastic weather challenges we are experiencing will support the $AVINGS in utility costs. 

The Real Estate industry feels the natural ebb and flow of sales due to the holiday seasons.  Other than calendar/holiday indicators there are other factors we all experience in pricing and affordability across the nation. 

Examples of seasonal effects include a July drop in automobile production as factories retool for new models and increases in heating oil production during September in anticipation of the winter heating season. 

GAIN MOMENTUM - Off- season dealing: Sellers in late fall and early winter, especially between Thanksgiving and New Year's Day, are often more motivated  to deal, real estate agents say. "I've done my best negotiating from October to December," says Jim Crawford, a real estate agent, lecturer and Web consultant in Roswell, Ga. "Families don't want lots of people tromping through your home around Christmas time ... so you're more apt to accept an offer and MOVE ON." 

WIN - While most are sleeping and slowing down,…  you are preparing for the momentum, ramping up, outperforming the competition and winning! 

Tis The Season to find your next NEW home! Contact us today and we will assist you in your all your real estate needs!  Together we will make your season merry and bright! 

The Mary Ellen Vanaken Team
Keller Williams Realty North Atlanta
5780 Windward Parkway
Alpharetta, Georgia 30005
678.866.1935

Tis The Season!

A Good Credit Score For Buying A Home

A Good Credit Score For Buying A Home

A Good Credit Score For Buying A Home by The Mary Ellen Vanaken Team of Keller Williams Realty www.mevhomes.com 678.929.6529

 A good credit score for buying a home can be determined by your payment history, salary history, current wage, available credit, scores other lenders are accepting and the current economy. Most lenders accept a minimum score of 650.

The credit bureaus have different evaluation systems for scoring. The factors used to calculate a credit score are a persons credit payment history, current debts, time length of credit history, credit type mix and frequency of applications for new credit. Since the scoring systems are based on different criteria which are weighted differently, the three major credit bureaus (Equifax, TransUnion, & Experian) may issue differing scores for an individual, even though the scores are based on the same credit report information.

Scores range between 350 (extremely high risk) and 850 (extremely low risk).  A score above 650 is typically considered good.

What A Score Gives You

Your credit score will help determine your mortgage loan interest rate. The better your score, the better your interest rate. FICO, (Fair Isaac Corporation), explains the differences in interest rate you may pay, depending on your score. If your score is between 620 and 639—considered a risky score by some creditors—you could pay an interest rate of 5.718 percent on a $300,000, 30-year conventional mortgage. In mid-August of  2010 FICO reported that if your score is at the high end, 760 to 850, your interest rate could be 4.129 percent on the same loan. A score of 650 may net you a rate of 5.172 percent.

Fixing Your Credit Score

Credit scores are updated monthly. If your credit score won’t allow you to get a home loan now, you can improve your score by doing a few things.  Pay all of your bills on time; late payments drive down your score. Pay down balances; maxed-out credit accounts can hurt your score. Check your credit report regularly for errors. This is one of the easiest ways to improve your credit score. If you find errors on your credit report and you can prove they are errors, the credit bureau has to remove them.

Remember, a good credit score for buying a home is only one part of the mortgage loan qualification process. Factors such as employment history, income and debt-to-income ratio will impact a lenders decision. It is up to a lender to decide whether to extend credit to a mortgage loan applicant.

For more information on tips for buying a home, contact The Mary Ellen Vanaken Team of Keller Williams Realty 678.929.6529. Mary Ellen's background is accounting and finance and will be able to help you find the best value your money can buy.

Buying a home is probably the largest investment you will ever make, whether you are buying your first home or are upgrading to a larger home.  If you are looking for an agent who is will work hard for you to sell your home or locate your new home, please contact Mary Ellen and her team today!



 A Good Credit Score For Buying A Home