Thinking About Buying? 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, which 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.

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.

Looking to Buy, Sell, or Invest? Contact:

David Demangos - Keller Williams Realty
Cell: 858.232.8410 | Realtor® BRE# 01905183
www.AwesomeSanDiegoRealEstate.com
Our Team Goes to Extremes to Fulfill Your Real Estate Dreams!

San Diego Real Estate Expert | Global Property Specialist
Certified Luxury Marketing Specialist | CLHMS Million Dollar Guild Agent
Green Specialist | Certified International Property Specialist
2016 Recognition of Excellence Award Winner SDAR

Is Credit Restoration Legal?

You may be wondering, is credit restoration legal? Absolutely. The Fair Credit Reporting Act allows anyone to dispute inaccurate items on their credit reports. Individuals can restore their credit on their own but this can take time and a lot of knowledge when it comes to the credit laws. That's why FES (Financial Education Services) is here to help since they have the experience and knowledge to get you the positive results.

Did you know your interest rate is affected when?:

• You are trying to qualify for a home loan/re-finance
• You are looking to rent a home
• You buy a car, boat, motorcycle etc.
• An employer is looking to hire you
• Homeowners insurance
• And, so much more..

Nearly 80% of credit reports contain inaccuracies or erroneous accounts. There is no room for error, yet 8 out of 10 people are losing out on their hard earned money because of these mistakes.

I have found a restoration company that is 10 years old and has an A+ Rating with the BBB (Better Business Bureau) and have partnered with them to help people restore their score. (because they deserve it) Who do you know with bad credit? I can help them! Contact:

David Demangos
Keller Williams Realty
Cell:  858.232.8410
Realtor® BRE# 01905183

San Diego Real Estate Area Expert / Green Specialist / ALC Committee
Our Team Goes to Extremes to Fulfill Your Real Estate Dreams!

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