5 Factors That Decide Your Credit Score

 Credit scores range between 200 and 800.  Scores above 620 are considered desirable for obtaining a mortgage.  These factors will affect your score:

1.    Your payment history...whether you paid credit card obligations on time.

2.    How much you owe.  Owing a great deal of money on numerous accounts can indicate that you are overextended.

3.    The length of your credit history.  In general, the longer the better.

4.    How much new credit you have.  New credit, either installment payments or new credit cards, are considered more risky, even if you pay promptly.

5.    The types of credit you use.  Generally, it's desirable to have more than one type of credit...installment loans, credit cards, and a mortgage, for example.

When Buying a Home, Why the Right Real Estate Agent is So Important

If you have begun looking for a home to buy, the best method is to have your own Real Estate Agent.  Perhaps you drive around and see a property you might be interested in, so you call the Agent whose name is on the sign.  Or, you're surfing the web (PoshSTLHomes.com or Realtor.com) and find a property you want to see...so you call the Listing Agent.

STOP DOING THAT!!  The Listing Agent works for the Seller of the property.  He/she has signed a contract with the Seller to always put their best interest first.  Where does that leave you...the Buyer?  You need your own Agent whose duty will be to put YOUR best interest first.  In fact, it's best to use an ABRⓇ, an Agent who is an Accredited Buyers Representative.

Don't think you have to call the Agent listed on a For Sale sign.  When you have your own Agent, he/she will be able to show you any homes/properties for sale; even those properties listed For Sale By Owner.  Do beware...there are some Agents who do not want to spend time showing homes.  You'll want an Agent who is accessible to your needs and willing to spend the time to show you homes.  Find and talk with an Agent to get a feel as to their interest level in showing homes and their knowledge of the area you are looking in.

You need and deserve expert, professional representation should you be ready to purchase a property.  Your Agent will work with you throughout the entire process:  from finding and showing you homes, negotiating on your behalf should you submit an offer, assist you with inspections, handle all paperwork, get you to closing, and putting the keys of your new home in your hand.

Contact us when you're ready to make a move and hire an ABRⓇ to ensure you are getting the best service in your pursuit of purchasing a home.